Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 285,150 shares of the company’s stock after selling 15,390 shares during the period. Cardinal Health accounts for 1.6% of Nippon Life Global Investors Americas Inc.’s portfolio, making the stock its 21st biggest position. Nippon Life Global Investors Americas Inc.’s holdings in Cardinal Health were worth $33,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Barclays PLC increased its position in shares of Cardinal Health by 8.2% in the 3rd quarter. Barclays PLC now owns 707,404 shares of the company’s stock worth $78,183,000 after purchasing an additional 53,851 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Cardinal Health in the 3rd quarter worth approximately $846,000. Franklin Resources Inc. increased its holdings in shares of Cardinal Health by 6.6% in the 3rd quarter. Franklin Resources Inc. now owns 151,185 shares of the company’s stock valued at $16,918,000 after acquiring an additional 9,385 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Cardinal Health during the third quarter worth $497,000. Finally, Copley Financial Group Inc. acquired a new position in Cardinal Health in the third quarter worth $507,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the subject of several research reports. Argus set a $148.00 price target on shares of Cardinal Health in a report on Tuesday, February 4th. Mizuho increased their price target on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research note on Tuesday, January 7th. Wells Fargo & Company boosted their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Finally, Bank of America lifted their price objective on shares of Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $131.32 on Tuesday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $139.50. The firm has a market cap of $31.72 billion, a P/E ratio of 24.50, a PEG ratio of 1.49 and a beta of 0.61. The stock has a fifty day moving average price of $130.11 and a two-hundred day moving average price of $123.47.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a $0.5056 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.54%. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.