Cardinal Health, Inc. (NYSE:CAH) Stock Holdings Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,595,812 shares of the company's stock after selling 13,985 shares during the quarter. Bank of New York Mellon Corp owned 0.66% of Cardinal Health worth $219,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Pinnacle Bancorp Inc. increased its stake in Cardinal Health by 11.2% in the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock valued at $106,000 after purchasing an additional 77 shares during the last quarter. CSS LLC IL lifted its position in Cardinal Health by 0.8% in the fourth quarter. CSS LLC IL now owns 11,190 shares of the company's stock valued at $1,323,000 after acquiring an additional 90 shares during the last quarter. Perigon Wealth Management LLC lifted its position in Cardinal Health by 4.2% in the first quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock valued at $309,000 after acquiring an additional 90 shares during the last quarter. Smith Shellnut Wilson LLC ADV lifted its position in Cardinal Health by 2.1% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock valued at $606,000 after acquiring an additional 91 shares during the last quarter. Finally, TIAA Trust National Association grew its stake in Cardinal Health by 4.5% during the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock worth $258,000 after buying an additional 94 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Down 0.8%

CAH traded down $1.30 during trading on Friday, hitting $160.87. 1,314,182 shares of the company's stock were exchanged, compared to its average volume of 2,240,077. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $168.44. The stock has a 50 day moving average price of $157.67 and a 200 day moving average price of $138.75. The firm has a market cap of $38.40 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 1.61 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The company had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. During the same period last year, the company posted $2.08 earnings per share. The firm's revenue 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is 31.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Mizuho lifted their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Bank of America lifted their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Robert W. Baird increased their target price on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Citigroup reissued a "neutral" rating and set a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Cardinal Health has an average 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.