Cornerstone Select Advisors LLC Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Cornerstone Select Advisors LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,055 shares of the company's stock, valued at approximately $1,426,000. Cardinal Health accounts for about 1.4% of Cornerstone Select Advisors LLC's portfolio, making the stock its 24th biggest position.

Several other large investors have also added to or reduced their stakes in the stock. Rothschild Investment LLC lifted its holdings in Cardinal Health by 10.1% in the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company's stock worth $101,000 after buying an additional 79 shares during the period. Private Trust Co. NA boosted its position in shares of Cardinal Health by 11.0% during the fourth quarter. Private Trust Co. NA now owns 930 shares of the company's stock valued at $110,000 after purchasing an additional 92 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Cardinal Health by 2.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company's stock valued at $411,000 after purchasing an additional 93 shares in the last quarter. TIAA Trust National Association grew its stake in Cardinal Health by 4.5% in the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock worth $258,000 after purchasing an additional 94 shares during the period. Finally, MWA Asset Management lifted its position in Cardinal Health by 2.9% during the fourth quarter. MWA Asset Management now owns 3,324 shares of the company's stock valued at $393,000 after buying an additional 95 shares during the period. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

CAH has been the subject of several research reports. Argus set a $148.00 price target on shares of Cardinal Health in a research note on Tuesday, February 4th. TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and lifted their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Robert W. Baird upped their price target on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Wells Fargo & Company lifted their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Finally, Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $146.43.

Cardinal Health Stock Performance

NYSE CAH opened at $151.80 on Wednesday. The company has a market capitalization of $36.23 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.49 and a beta of 0.66. The stock has a 50-day moving average of $133.36 and a 200 day moving average of $125.62. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $152.98.

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, beating 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 during the quarter, compared to analysts' expectations of $55.33 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The firm's quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.5107 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.35%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is presently 31.51%.

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.

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