Korea Investment CORP Increases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Korea Investment CORP raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,127 shares of the company’s stock after purchasing an additional 4,900 shares during the quarter. Korea Investment CORP’s holdings in Cardinal Health were worth $19,648,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAH. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Cardinal Health during the 4th quarter worth approximately $248,000. TrueMark Investments LLC boosted its stake in shares of Cardinal Health by 14.1% in the fourth quarter. TrueMark Investments LLC now owns 3,583 shares of the company’s stock valued at $424,000 after purchasing an additional 444 shares during the period. TIAA Trust National Association boosted its stake in shares of Cardinal Health by 4.5% in the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock valued at $258,000 after purchasing an additional 94 shares during the period. CoreFirst Bank & Trust acquired a new stake in Cardinal Health during the 4th quarter valued at $62,000. Finally, Stevens Capital Management LP purchased a new stake in Cardinal Health during the 4th quarter worth $265,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Down 0.2 %

CAH opened at $136.43 on Friday. The company’s 50-day moving average price is $128.36 and its 200 day moving average price is $120.80. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $137.18. The firm has a market cap of $32.96 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

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

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CAH. Wells Fargo & Company raised their target price on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Argus set a $148.00 price objective on Cardinal Health in a research note on Tuesday, February 4th. Mizuho initiated coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price for the company. Morgan Stanley raised their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.36.

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.