Daiwa Securities Group Inc. Has $3.58 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Daiwa Securities Group Inc. reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 3.6% during the 2nd quarter, Holdings Channel reports. The fund owned 36,408 shares of the company’s stock after selling 1,345 shares during the period. Daiwa Securities Group Inc.’s holdings in Cardinal Health were worth $3,579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CAH. Norges Bank bought a new position in shares of Cardinal Health during the fourth quarter worth approximately $258,499,000. Acadian Asset Management LLC grew its holdings 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 buying an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Cardinal Health during the 1st quarter worth $56,454,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Cardinal Health by 265.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after buying an additional 477,682 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Cardinal Health by 1,941.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock valued at $46,183,000 after acquiring an additional 435,722 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Down 0.9 %

Shares of NYSE CAH opened at $112.36 on Friday. The stock has a 50-day moving average price of $103.64 and a two-hundred day moving average price of $104.09. Cardinal Health, Inc. has a 12 month low of $85.82 and a 12 month high of $116.05. The company has a market cap of $27.37 billion, a price-to-earnings ratio of 49.94, a PEG ratio of 1.53 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 EPS. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.6 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.506 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is presently 89.78%.

Insider Buying and Selling at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CAH has been the topic of a number of recent research reports. Evercore ISI raised their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Morgan Stanley increased their price target on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Citigroup dropped their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Argus increased their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Company 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.