MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 29,919 Shares of Cardinal Health, Inc. (NYSE:CAH)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 86.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,467 shares of the company's stock after acquiring an additional 29,919 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Cardinal Health were worth $7,625,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC bought a new position in Cardinal Health during the fourth quarter valued at approximately $26,000. Promus Capital LLC bought a new position in Cardinal Health during the fourth quarter valued at approximately $30,000. Bellwether Advisors LLC bought a new position in shares of Cardinal Health in the fourth quarter valued at approximately $32,000. Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health in the fourth quarter valued at approximately $35,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Cardinal Health in the fourth quarter valued at approximately $36,000. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of NYSE:CAH traded up $0.24 on Friday, hitting $152.73. The stock had a trading volume of 1,856,640 shares, compared to its average volume of 2,227,745. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $156.44. The firm's 50 day moving average price is $139.58 and its 200-day moving average price is $129.09. The company has a market capitalization of $36.45 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The business had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the prior year, the company earned $2.08 EPS. The firm's quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.34%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is currently 31.83%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAH. Jefferies Financial Group upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and raised their price objective for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Bank of America raised their price objective on shares of Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, Mizuho raised their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $146.43.

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.