Envestnet Portfolio Solutions Inc. Buys 4,853 Shares of Cardinal Health, Inc. (NYSE:CAH)

Envestnet Portfolio Solutions Inc. grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,191 shares of the company’s stock after buying an additional 4,853 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Cardinal Health were worth $5,108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAH. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cardinal Health by 35.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock worth $3,871,000 after acquiring an additional 8,471 shares during the period. CHURCHILL MANAGEMENT Corp grew its position in shares of Cardinal Health by 1.5% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after purchasing an additional 3,576 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after purchasing an additional 42,082 shares during the period. Consolidated Planning Corp raised its position in shares of Cardinal Health by 40.0% in the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock worth $1,056,000 after buying an additional 2,552 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after buying an additional 33,388 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of research analyst reports. Citigroup upped their target price on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Argus set a $148.00 price objective on shares of Cardinal Health in a research report on Tuesday, February 4th. Wells Fargo & Company boosted their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Stock Performance

Shares of CAH stock opened at $131.36 on Wednesday. The company has a market capitalization of $31.73 billion, a P/E ratio of 24.51, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $133.12. The stock has a 50 day moving average price of $126.75 and a two-hundred day moving average price of $119.69.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS 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%. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.54%. Cardinal Health’s payout ratio is presently 37.69%.

Cardinal Health Company 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.