Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lifted its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 86.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,423 shares of the company's stock after purchasing an additional 32,250 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Cardinal Health were worth $6,998,000 as of its most recent SEC filing.

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Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clearstead Trust LLC acquired a new stake in Cardinal Health in the 4th quarter valued at $25,000. Cornerstone Planning Group LLC acquired a new stake in Cardinal Health in the 3rd quarter valued at $26,000. BKM Wealth Management LLC purchased a new position in Cardinal Health in the 4th quarter valued at $30,000. Hexagon Capital Partners LLC lifted its holdings in Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company's stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Cardinal Health in the 4th quarter valued at $36,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Cardinal Health stock traded up $1.36 during midday trading on Wednesday, reaching $96.11. 1,720,483 shares of the company's stock were exchanged, compared to its average volume of 2,201,545. Cardinal Health, Inc. has a 52 week low of $80.90 and a 52 week high of $116.04. The firm has a market cap of $23.41 billion, a price-to-earnings ratio of 42.72, a P/E/G ratio of 1.09 and a beta of 0.71. The stock's 50-day simple moving average is $103.80 and its 200 day simple moving average is $105.30.

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Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same period in the prior year, the business earned $1.74 earnings per share. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.5056 dividend. This is a positive change from Cardinal Health's previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. This represents a $2.02 annualized dividend and a yield of 2.10%. Cardinal Health's dividend payout ratio (DPR) is 88.89%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CAH shares. Argus cut their price objective on Cardinal Health from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, May 15th. UBS Group upped their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, February 5th. StockNews.com lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Leerink Partnrs reissued an "outperform" rating on shares of Cardinal Health in a report on Monday, February 26th. Finally, Robert W. Baird reduced their target price on Cardinal Health from $134.00 to $128.00 and set an "outperform" rating on the stock in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.57.

Read Our Latest Research Report on CAH

Cardinal Health Company Profile

(Free Report)

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.

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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