Kovitz Investment Group Partners LLC Acquires 19,187 Shares of Cardinal Health, Inc. (NYSE:CAH)

Kovitz Investment Group Partners LLC boosted its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 37.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,859 shares of the company's stock after purchasing an additional 19,187 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Cardinal Health were worth $7,109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC increased its position in shares of Cardinal Health by 77.3% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company's stock valued at $65,539,000 after buying an additional 258,541 shares in the last quarter. Wahed Invest LLC raised its position in shares of Cardinal Health by 9.5% during the third quarter. Wahed Invest LLC now owns 5,914 shares of the company's stock worth $651,000 after purchasing an additional 515 shares during the period. Weiss Asset Management LP bought a new position in shares of Cardinal Health during the 3rd quarter valued at about $3,152,000. Two Sigma Advisers LP raised its holdings in Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company's stock worth $118,197,000 after buying an additional 346,362 shares during the period. Finally, State Street Corp boosted its holdings in shares of Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company's stock valued at $1,566,913,000 after buying an additional 627,253 shares during the period. Institutional investors own 87.17% of the company's stock.

Cardinal Health Trading Down 0.1 %

Shares of NYSE:CAH traded down $0.08 on Friday, reaching $122.76. 1,583,924 shares of the company's stock were exchanged, compared to its average volume of 2,228,541. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $126.23. The company has a fifty day moving average of $116.29 and a 200-day moving average of $107.64. The company has a market capitalization of $29.71 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 1.57 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating 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 firm had revenue of $52.28 billion during the quarter, compared to analysts' expectations of $50.90 billion. During the same period in the previous year, the firm earned $1.73 EPS. The company's quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.65%. Cardinal Health's dividend payout ratio is 39.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 21st. Morgan Stanley boosted their target price on Cardinal Health from $119.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. UBS Group raised their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a "hold" rating in a report on Monday, November 4th. Finally, Mizuho began coverage on shares of Cardinal Health in a report on Wednesday. They set an "outperform" rating and a $139.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $124.58.

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.