CANADA LIFE ASSURANCE Co Boosts Stake in Cardinal Health, Inc. (NYSE:CAH)

CANADA LIFE ASSURANCE Co raised its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 544,990 shares of the company's stock after buying an additional 42,134 shares during the period. CANADA LIFE ASSURANCE Co owned 0.23% of Cardinal Health worth $64,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC lifted its holdings in Cardinal Health by 10.1% in the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company's stock worth $101,000 after buying an additional 79 shares during the period. Private Trust Co. NA lifted its stake in Cardinal Health by 11.0% in the fourth quarter. Private Trust Co. NA now owns 930 shares of the company's stock worth $110,000 after acquiring an additional 92 shares during the period. Checchi Capital Advisers LLC boosted its holdings in Cardinal Health by 2.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company's stock valued at $411,000 after acquiring an additional 93 shares in the last quarter. TIAA Trust National Association increased its position in Cardinal Health by 4.5% during the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock valued at $258,000 after purchasing an additional 94 shares during the period. Finally, MWA Asset Management increased its position in Cardinal Health by 2.9% during the 4th quarter. MWA Asset Management now owns 3,324 shares of the company's stock valued at $393,000 after purchasing an additional 95 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Up 0.2 %

NYSE:CAH traded up $0.27 during mid-day trading on Wednesday, reaching $133.96. The company's stock had a trading volume of 817,250 shares, compared to its average volume of 2,182,184. The firm's fifty day moving average price is $130.24 and its two-hundred day moving average price is $123.54. The stock has a market cap of $32.36 billion, a P/E ratio of 24.99, a PEG ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $139.50.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.5056 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.51%. Cardinal Health's dividend payout ratio is currently 37.69%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CAH. Wells Fargo & Company lifted their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Mizuho increased their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Morgan Stanley lifted their price target on Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and increased their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Finally, Bank of America increased their price target 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. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.86.

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.