Asahi Life Asset Management CO. LTD. reduced its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 7.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,710 shares of the company’s stock after selling 700 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Cardinal Health were worth $419,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CAH. Loudon Investment Management LLC boosted its holdings in shares of Cardinal Health by 2.3% in the 1st quarter. Loudon Investment Management LLC now owns 12,789 shares of the company’s stock valued at $616,000 after buying an additional 285 shares during the last quarter. Alethea Capital Management LLC acquired a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $337,000. Raymond James & Associates boosted its holdings in shares of Cardinal Health by 9.4% in the 1st quarter. Raymond James & Associates now owns 95,398 shares of the company’s stock valued at $4,593,000 after buying an additional 8,165 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Cardinal Health by 31.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 47,119 shares of the company’s stock valued at $2,269,000 after buying an additional 11,311 shares during the last quarter. Finally, Chemical Bank boosted its holdings in shares of Cardinal Health by 7.7% in the 1st quarter. Chemical Bank now owns 20,487 shares of the company’s stock valued at $986,000 after buying an additional 1,465 shares during the last quarter. 87.67% of the stock is owned by institutional investors.
CAH has been the subject of several recent analyst reports. Zacks Investment Research raised Cardinal Health from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, March 5th. UBS Group initiated coverage on Cardinal Health in a report on Thursday, January 17th. They issued a “neutral” rating and a $51.00 price objective for the company. Guggenheim initiated coverage on Cardinal Health in a report on Wednesday, April 17th. They issued a “neutral” rating and a $51.00 price objective for the company. ValuEngine raised Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Wolfe Research initiated coverage on Cardinal Health in a report on Tuesday, April 2nd. They issued an “underperform” rating for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.20.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 9th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.16. The business had revenue of $35.23 billion for the quarter, compared to analyst estimates of $35.09 billion. During the same period in the prior year, the business earned $1.39 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Cardinal Health Inc will post 5.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.4811 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.92 annualized dividend and a yield of 4.25%. Cardinal Health’s dividend payout ratio (DPR) is currently 38.20%.
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Cardinal Health Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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