Envestnet Portfolio Solutions Inc. Grows Holdings in Cardinal Health, Inc. (NYSE:CAH)

Envestnet Portfolio Solutions Inc. boosted its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,191 shares of the company's stock after buying an additional 4,853 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Cardinal Health were worth $5,108,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Promus Capital LLC purchased a new position in shares of Cardinal Health during the fourth quarter valued at approximately $30,000. Kentucky Trust Co bought a new stake in Cardinal Health in the 4th quarter worth approximately $41,000. HHM Wealth Advisors LLC raised its stake in Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company's stock valued at $47,000 after buying an additional 144 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Cardinal Health by 29.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 464 shares of the company's stock valued at $55,000 after buying an additional 106 shares during the period. Finally, Quarry LP boosted its stake in shares of Cardinal Health by 541.7% in the 3rd quarter. Quarry LP now owns 616 shares of the company's stock worth $68,000 after buying an additional 520 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

CAH has been the topic of a number of recent research reports. TD Cowen raised Cardinal Health from a "hold" rating to a "buy" rating and increased their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. increased 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. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 target price for the company. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their target price for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Finally, Bank of America raised shares of Cardinal Health from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $139.36.

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Cardinal Health Stock Performance

Shares of Cardinal Health stock traded down $1.29 during trading hours on Friday, hitting $131.80. The company's stock had a trading volume of 5,709,521 shares, compared to its average volume of 1,974,154. The company has a market cap of $31.84 billion, a PE ratio of 24.59, a PEG ratio of 1.49 and a beta of 0.66. The business has a 50 day moving average price of $127.35 and a two-hundred day moving average price of $120.00. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $133.67.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's payout ratio is presently 37.69%.

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.