Cardinal Health, Inc. (NYSE:CAH) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC raised its position in Cardinal Health, Inc. (NYSE:CAH) by 26.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,238 shares of the company’s stock after purchasing an additional 669 shares during the quarter. Ballentine Partners LLC’s holdings in Cardinal Health were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at approximately $209,000. Mather Group LLC. increased its stake in shares of Cardinal Health by 2.5% during the fourth quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock valued at $673,000 after acquiring an additional 164 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Cardinal Health by 86.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock valued at $6,998,000 after acquiring an additional 32,250 shares during the period. Nordea Investment Management AB increased its stake in shares of Cardinal Health by 50.5% during the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after acquiring an additional 61,933 shares during the period. Finally, Vest Financial LLC increased its stake in shares of Cardinal Health by 15.9% during the fourth quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock valued at $28,470,000 after acquiring an additional 38,769 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CAH. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday. Argus dropped their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Evercore ISI upped their price target on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Robert W. Baird dropped their price target on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Finally, Wells Fargo & Company dropped their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Trading Up 0.2 %

Shares of NYSE:CAH opened at $104.88 on Tuesday. The stock has a market capitalization of $25.55 billion, a PE ratio of 46.61, a P/E/G ratio of 1.18 and a beta of 0.64. Cardinal Health, Inc. has a 1 year low of $85.11 and a 1 year high of $116.04. The firm has a fifty day moving average price of $100.39 and a 200 day moving average price of $104.68.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The firm had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. Cardinal Health’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 earnings per share. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.5056 dividend. The ex-dividend date is Monday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 dividend on an annualized basis and a yield of 1.93%. Cardinal Health’s dividend payout ratio is currently 88.89%.

Cardinal Health Profile

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.