Daiwa Securities Group Inc. Acquires 15,195 Shares of Cardinal Health, Inc. (NYSE:CAH)

Daiwa Securities Group Inc. increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 41.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,603 shares of the company's stock after buying an additional 15,195 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Cardinal Health were worth $5,703,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. increased its holdings in shares of Cardinal Health by 4.7% during the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company's stock worth $474,203,000 after buying an additional 191,568 shares in the last quarter. ProShare Advisors LLC increased its holdings in Cardinal Health by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company's stock worth $172,974,000 after purchasing an additional 85,247 shares in the last quarter. Renaissance Technologies LLC raised its position in Cardinal Health by 7.1% in the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company's stock valued at $165,517,000 after purchasing an additional 111,137 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Cardinal Health by 17.7% during the second quarter. American Century Companies Inc. now owns 1,610,968 shares of the company's stock worth $158,390,000 after purchasing an additional 242,608 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Cardinal Health by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company's stock worth $162,976,000 after buying an additional 33,388 shares during the period. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $122.45 on Wednesday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14. The stock has a 50 day moving average price of $114.07 and a two-hundred day moving average price of $106.13. The stock has a market capitalization of $29.63 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during 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 revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share. Research analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Sunday, November 3rd. Argus increased their price target on Cardinal Health from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Wells Fargo & Company lifted their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an "underweight" rating in a research note on Thursday, August 15th. Morgan Stanley increased their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Finally, Barclays boosted their price target on shares of 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 issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.