Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Northern Trust Corp

Northern Trust Corp raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 16.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,037,849 shares of the company's stock after acquiring an additional 422,755 shares during the quarter. Northern Trust Corp owned approximately 1.26% of Cardinal Health worth $359,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. Norges Bank acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $246,748,000. Marshall Wace LLP raised its holdings in shares of Cardinal Health by 154.6% in the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after acquiring an additional 1,913,892 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Cardinal Health by 1,142.4% in the fourth quarter. Bank of Nova Scotia now owns 545,313 shares of the company's stock valued at $64,494,000 after acquiring an additional 501,421 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Cardinal Health during the fourth quarter valued at $45,115,000. Finally, Renaissance Group LLC increased its position in Cardinal Health by 4,375.6% during the 4th quarter. Renaissance Group LLC now owns 265,044 shares of the company's stock worth $31,347,000 after purchasing an additional 259,122 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Trading Up 0.1 %

CAH traded up $0.13 during trading on Tuesday, hitting $152.12. 423,775 shares of the company's stock were exchanged, compared to its average volume of 2,187,733. The stock has a 50 day moving average price of $132.87 and a 200 day moving average price of $125.44. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $154.10. The firm has a market cap of $36.75 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The business had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The company's revenue for the quarter was up .0% compared to the same quarter last year. Analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.34%. Cardinal Health's payout ratio is presently 37.69%.

Analyst Ratings Changes

Several research firms have issued reports on CAH. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and raised their price target for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Robert W. Baird raised their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday. Evercore ISI upgraded Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target for the company in a report on Tuesday, January 7th. UBS Group raised their price objective on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Bank of America upped their target price on Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $146.43.

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.