Mirae Asset Global Investments Co. Ltd. Acquires 8,155 Shares of Cardinal Health, Inc. $CAH

Key Points

• Mirae Asset Global Investments raised its stake in Cardinal Health by 21.6%, buying 8,155 shares to hold 45,988 shares valued at about $9.45 million at quarter-end.
• Cardinal Health beat expectations with Q earnings of $2.63 per share vs. $2.31 expected and revenue of $65.63 billion (up 18.8% year-over-year); analysts forecast $7.95 EPS for the year.
• Analyst sentiment is favorable: MarketBeat shows a consensus "Moderate Buy" and an average price target of $244.33, with firms like JPMorgan, UBS and Barclays recently raising targets.

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 21.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,988 shares of the company's stock after purchasing an additional 8,155 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Cardinal Health were worth $9,451,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aventura Private Wealth LLC bought a new stake in shares of Cardinal Health during the fourth quarter worth $25,000. SJS Investment Consulting Inc. lifted its position in shares of Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company's stock worth $25,000 after purchasing an additional 150 shares during the last quarter. Barnes Dennig Private Wealth Management LLC lifted its position in shares of Cardinal Health by 38.7% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company's stock worth $39,000 after purchasing an additional 53 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of Cardinal Health during the third quarter worth $31,000. Finally, Turning Point Benefit Group Inc. purchased a new position in shares of Cardinal Health during the third quarter valued at $31,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Down 0.1%

Shares of Cardinal Health stock opened at $213.85 on Monday. The stock's fifty day moving average price is $217.24 and its 200-day moving average price is $203.22. Cardinal Health, Inc. has a 12 month low of $129.52 and a 12 month high of $233.60. The firm has a market cap of $50.32 billion, a P/E ratio of 30.77, a P/E/G ratio of 1.38 and a beta of 0.64.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.32. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The company had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same quarter in the previous year, the firm earned $1.93 earnings per share. The firm's quarterly revenue was up 18.8% compared to the same quarter last year. Analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Cardinal Health from $209.00 to $243.00 and gave the company a "neutral" rating in a research note on Tuesday, February 10th. UBS Group set a $260.00 price target on Cardinal Health and gave the company a "buy" rating in a research note on Friday, February 6th. Weiss Ratings restated a "buy (b)" rating on shares of Cardinal Health in a research note on Wednesday, January 21st. Wall Street Zen lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 12th. Finally, Barclays raised their price target on Cardinal Health from $243.00 to $258.00 and gave the company an "overweight" rating in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $244.33.

About Cardinal Health

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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