Mirae Asset Global Investments Co. Ltd. Raises Stock Position in Cardinal Health, Inc. $CAH

Mirae Asset Global Investments Co. Ltd. raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 15.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,833 shares of the company’s stock after purchasing an additional 5,030 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cardinal Health were worth $5,938,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Integrated Wealth Concepts LLC lifted its holdings in Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after acquiring an additional 280 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the period. PFG Investments LLC lifted its stake in shares of Cardinal Health by 19.7% in the 2nd quarter. PFG Investments LLC now owns 2,189 shares of the company’s stock valued at $368,000 after purchasing an additional 361 shares during the period. Pure Financial Advisors LLC boosted its holdings in Cardinal Health by 34.9% during the second quarter. Pure Financial Advisors LLC now owns 2,406 shares of the company’s stock worth $404,000 after buying an additional 622 shares in the last quarter. Finally, Hilltop National Bank acquired a new stake in Cardinal Health during the second quarter valued at $236,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the topic of several recent analyst reports. UBS Group increased their target price on shares of Cardinal Health from $185.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Argus upped their price target on Cardinal Health from $211.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Evercore ISI boosted their price objective on Cardinal Health from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Barclays began coverage on Cardinal Health in a research report on Monday, December 8th. They set an “overweight” rating and a $243.00 target price on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $224.73.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $214.85 on Friday. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $216.51. The firm has a market capitalization of $51.05 billion, a PE ratio of 32.41, a P/E/G ratio of 1.44 and a beta of 0.65. The business’s 50 day moving average price is $206.24 and its 200-day moving average price is $178.02.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. Cardinal Health had a negative return on equity of 84.37% and a net margin of 0.68%.The company had revenue of $64.01 billion for the quarter, compared to analyst estimates of $59.41 billion. During the same quarter last year, the firm posted $1.88 EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Friday, January 2nd were given a dividend of $0.5107 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. Cardinal Health’s payout ratio is presently 30.77%.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.