Sompo Asset Management Co. Ltd. Sells 100 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sompo Asset Management Co. Ltd. reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,740 shares of the company’s stock after selling 100 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Cardinal Health were worth $303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Swedbank AB raised its position in shares of Cardinal Health by 0.3% during the 3rd quarter. Swedbank AB now owns 435,371 shares of the company’s stock valued at $48,117,000 after buying an additional 1,112 shares in the last quarter. Algert Global LLC bought a new stake in Cardinal Health in the 3rd quarter worth $1,008,000. Cerity Partners LLC grew its holdings in Cardinal Health by 35.9% in the 3rd quarter. Cerity Partners LLC now owns 32,964 shares of the company’s stock worth $3,643,000 after acquiring an additional 8,707 shares during the last quarter. Meridian Wealth Management LLC boosted its stake in shares of Cardinal Health by 10.5% during the 3rd quarter. Meridian Wealth Management LLC now owns 8,771 shares of the company’s stock valued at $969,000 after purchasing an additional 836 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its stake in shares of Cardinal Health by 19.0% during the 3rd quarter. Raymond James Trust N.A. now owns 12,656 shares of the company’s stock valued at $1,399,000 after purchasing an additional 2,018 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Barclays boosted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Mizuho upped their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Robert W. Baird increased their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Down 1.3 %

Shares of CAH opened at $121.84 on Monday. The stock has a 50 day moving average price of $113.90 and a 200 day moving average price of $105.96. The company has a market capitalization of $29.49 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.54 and a beta of 0.60. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.14.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

About Cardinal Health

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.