Ballentine Partners LLC Has $847,000 Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Ballentine Partners LLC grew its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 66.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,145 shares of the company's stock after buying an additional 2,459 shares during the period. Ballentine Partners LLC's holdings in Cardinal Health were worth $847,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAH. Cyrus J. Lawrence LLC acquired a new stake in shares of Cardinal Health in the fourth quarter worth about $26,000. Bellwether Advisors LLC bought a new position in shares of Cardinal Health in the fourth quarter worth about $32,000. Tompkins Financial Corp increased its stake in shares of Cardinal Health by 106.7% in the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after purchasing an additional 128 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health in the fourth quarter worth about $35,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Cardinal Health in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of CAH opened at $160.87 on Monday. The company has a market capitalization of $38.40 billion, a P/E ratio of 25.10, a PEG ratio of 1.59 and a beta of 0.68. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $168.44. The business's 50 day simple moving average is $157.67 and its 200-day simple moving average is $139.03.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.15 by $0.20. The business had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. Cardinal Health's revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 EPS. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS 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. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.27%. Cardinal Health's dividend payout ratio is currently 31.83%.

Wall Street Analyst Weigh In

CAH has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Evercore ISI reiterated an "outperform" rating and issued a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. UBS Group lifted their price objective on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Mizuho boosted their price target on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Finally, Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.43.

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.

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