Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Cardinal Health, Inc. (NYSE:CAH)

Mirae Asset Global Investments Co. Ltd. increased its position in Cardinal Health, Inc. (NYSE:CAH) by 21.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,049 shares of the company’s stock after purchasing an additional 4,253 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cardinal Health were worth $2,640,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in shares of Cardinal Health in the second quarter worth approximately $90,440,000. Acadian Asset Management LLC lifted its position in Cardinal Health by 19.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after acquiring an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Cardinal Health during the 1st quarter valued at $56,454,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Cardinal Health by 265.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after purchasing an additional 477,682 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Cardinal Health in the first quarter worth $48,673,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

NYSE:CAH opened at $107.89 on Thursday. The firm has a market capitalization of $26.28 billion, a price-to-earnings ratio of 47.95, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The business has a fifty day moving average price of $111.65 and a 200-day moving average price of $104.10. Cardinal Health, Inc. has a one year low of $90.19 and a one year high of $116.05.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. During the same period in the previous year, the firm earned $1.55 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.506 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.88%. Cardinal Health’s payout ratio is 89.78%.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the sale, the chief executive officer now directly owns 244,091 shares in the company, valued at $26,574,187.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,963 shares of company stock valued at $12,379,980. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CAH shares. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI raised their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 26th. UBS Group increased their price objective on shares of Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird lifted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.18.

About Cardinal Health

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.