Cardinal Health, Inc. (NYSE:CAH) Holdings Boosted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 490,463 shares of the company's stock after purchasing an additional 35,921 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.20% of Cardinal Health worth $54,206,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Eastern Bank purchased a new position in shares of Cardinal Health in the 3rd quarter worth $25,000. Frazier Financial Advisors LLC raised its holdings in shares of Cardinal Health by 69.8% in the 3rd 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 period. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health in the 2nd quarter valued at about $27,000. Hara Capital LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter worth about $31,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Cardinal Health during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of CAH stock traded down $1.17 during mid-day trading on Tuesday, reaching $120.41. 1,307,012 shares of the company were exchanged, compared to its average volume of 2,100,292. The business's 50 day simple moving average is $116.71 and its 200 day simple moving average is $108.07. The company has a market capitalization of $29.14 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.53 and a beta of 0.61. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.23.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same period last year, the business earned $1.73 EPS. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.68%. Cardinal Health's payout ratio is 39.30%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CAH shares. Wells Fargo & Company lifted their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an "underweight" rating in a research report on Thursday, August 15th. Morgan Stanley upped their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Robert W. Baird raised their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an "outperform" rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Finally, Mizuho started coverage on Cardinal Health in a report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $124.58.

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.