Cardinal Health, Inc. $CAH Shares Sold by Nippon Life Global Investors Americas Inc.

Key Points

• Nippon Life Global Investors Americas cut its Cardinal Health stake by 24.2%, selling 42,880 shares to leave 134,010 shares (about 0.06% of CAH) valued at approximately $27,539,000, making CAH its 28th largest holding.
• Quarterly results beat expectations: Cardinal Health reported EPS of $2.63 versus $2.31 expected and revenue of $65.63 billion, up 18.8% year-over-year.
• Analyst consensus is a "Moderate Buy" with a consensus price target of $244.33 (one Strong Buy, fourteen Buy, two Hold).

Nippon Life Global Investors Americas Inc. lowered its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,010 shares of the company's stock after selling 42,880 shares during the period. Cardinal Health comprises approximately 1.1% of Nippon Life Global Investors Americas Inc.'s investment portfolio, making the stock its 28th biggest position. Nippon Life Global Investors Americas Inc. owned approximately 0.06% of Cardinal Health worth $27,539,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Aprio Wealth Management LLC raised its position in shares of Cardinal Health by 28.3% during the 4th quarter. Aprio Wealth Management LLC now owns 1,961 shares of the company's stock worth $403,000 after purchasing an additional 433 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Cardinal Health by 54.0% during the 4th quarter. D.A. Davidson & CO. now owns 5,608 shares of the company's stock worth $1,152,000 after purchasing an additional 1,967 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in Cardinal Health by 9.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 24,893 shares of the company's stock valued at $5,116,000 after acquiring an additional 2,170 shares in the last quarter. Inscription Capital LLC grew its stake in Cardinal Health by 6.1% during the 4th quarter. Inscription Capital LLC now owns 5,268 shares of the company's stock valued at $1,083,000 after acquiring an additional 301 shares in the last quarter. Finally, Carmel Capital Partners LLC purchased a new stake in Cardinal Health during the 4th quarter valued at about $202,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $199.74 on Monday. The firm has a 50 day simple moving average of $215.53 and a 200-day simple moving average of $204.90. Cardinal Health, Inc. has a 1-year low of $134.76 and a 1-year high of $233.60. The stock has a market cap of $47.00 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 1.29 and a beta of 0.64.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion during the quarter, compared to analysts' expectations of $64.88 billion. During the same quarter in the prior year, the company posted $1.93 EPS. The business's revenue for the quarter was up 18.8% on a year-over-year basis. Equities analysts expect that Cardinal Health, Inc. will post 10.32 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a $0.5107 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.0%. Cardinal Health's dividend payout ratio is 29.35%.

Analyst Ratings Changes

Several analysts recently issued reports on CAH shares. Robert W. Baird set a $252.00 price objective on shares of Cardinal Health in a research note on Friday, February 6th. Citigroup raised shares of Cardinal Health from a "neutral" rating to a "buy" rating and upped their price objective for the company from $190.00 to $244.00 in a research note on Friday, January 9th. Evercore dropped their price objective on shares of Cardinal Health from $260.00 to $240.00 and set an "outperform" rating for the company in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cardinal Health in a research note on Monday, April 20th. Finally, Mizuho upped their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the company an "outperform" rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Cardinal Health has a consensus rating of "Moderate Buy" and a consensus price target of $244.33.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company's core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.

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