Cardinal Health, Inc. (NYSE:CAH) Stock Position Lifted by Focus Partners Wealth

Focus Partners Wealth lifted its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,197 shares of the company's stock after purchasing an additional 3,076 shares during the period. Focus Partners Wealth's holdings in Cardinal Health were worth $2,152,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ethic Inc. boosted its stake in shares of Cardinal Health by 20.7% during the 4th quarter. Ethic Inc. now owns 11,835 shares of the company's stock worth $1,400,000 after acquiring an additional 2,031 shares in the last quarter. Fred Alger Management LLC boosted its position in Cardinal Health by 50.5% during the fourth quarter. Fred Alger Management LLC now owns 46,743 shares of the company's stock worth $5,528,000 after purchasing an additional 15,691 shares in the last quarter. Deutsche Bank AG grew its holdings in Cardinal Health by 17.1% in the fourth quarter. Deutsche Bank AG now owns 1,087,512 shares of the company's stock valued at $128,620,000 after purchasing an additional 158,779 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of Cardinal Health by 4.4% in the fourth quarter. EP Wealth Advisors LLC now owns 5,338 shares of the company's stock valued at $631,000 after buying an additional 225 shares in the last quarter. Finally, CoreCap Advisors LLC increased its position in shares of Cardinal Health by 4.4% in the fourth quarter. CoreCap Advisors LLC now owns 25,785 shares of the company's stock valued at $3,050,000 after buying an additional 1,093 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Up 0.6%

CAH stock traded up $0.85 during trading on Tuesday, hitting $154.71. 1,928,825 shares of the company's stock traded hands, compared to its average volume of 2,229,443. The stock has a market capitalization of $36.93 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $156.44. The stock has a fifty day moving average price of $137.63 and a two-hundred day moving average price of $128.19.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. Cardinal Health's quarterly revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's payout ratio is currently 31.83%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAH. Argus set a $148.00 price target on Cardinal Health in a report on Tuesday, February 4th. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their target price for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Bank of America upped their target price on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday, April 11th. StockNews.com upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Finally, Citigroup reissued a "neutral" rating on shares of Cardinal Health in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and an average price target of $146.43.

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.