Dai ichi Life Insurance Company Ltd Sells 443 Shares of Cardinal Health, Inc. (NYSE:CAH)

Dai ichi Life Insurance Company Ltd decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,778 shares of the company’s stock after selling 443 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Cardinal Health were worth $5,391,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eastern Bank purchased a new stake in Cardinal Health in the 3rd quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in Cardinal Health during the second quarter worth $27,000. Frazier Financial Advisors LLC boosted its position in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health in the 2nd quarter valued at $29,000. Finally, Hara Capital LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $122.45 on Wednesday. The company has a market capitalization of $29.63 billion, a P/E ratio of 23.82, a P/E/G ratio of 1.52 and a beta of 0.60. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.14. The company has a fifty day moving average of $114.07 and a 200-day moving average of $106.13.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business earned $1.73 earnings per share. As a group, analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.65%. Cardinal Health’s payout ratio is 39.30%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CAH. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. 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 report on Wednesday, August 21st. Evercore ISI boosted their target price on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. Wells Fargo & Company lifted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Finally, Barclays increased their target price on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $123.00.

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.