1,680 Shares in Cardinal Health, Inc. (NYSE:CAH) Acquired by Pines Wealth Management LLC

Pines Wealth Management LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,680 shares of the company's stock, valued at approximately $231,000.

A number of other institutional investors have also recently added to or reduced their stakes in CAH. Cyrus J. Lawrence LLC purchased a new stake in Cardinal Health in the fourth quarter valued at $26,000. Promus Capital LLC purchased a new stake in Cardinal Health in the fourth quarter valued at $30,000. Bellwether Advisors LLC purchased a new stake in Cardinal Health in the fourth quarter valued at $32,000. Tompkins Financial Corp raised its position in Cardinal Health by 106.7% in the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after purchasing an additional 128 shares during the period. Finally, Lee Danner & Bass Inc. purchased a new stake in Cardinal Health in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Mizuho lifted their target price on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. UBS Group lifted their target price on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Robert W. Baird lifted their price objective on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Citigroup reaffirmed a "neutral" rating on shares of Cardinal Health in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.50.

Cardinal Health Price Performance

Shares of CAH opened at $154.68 on Friday. The stock's 50-day moving average is $143.52 and its two-hundred day moving average is $131.51. The stock has a market cap of $36.92 billion, a PE ratio of 28.86, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $157.82.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $55.33 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The company's revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current 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 1.32%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's payout ratio is presently 31.83%.

About Cardinal Health

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.

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.