Bank of New York Mellon Corp Trims Position in Cardinal Health, Inc. (NYSE:CAH)

Bank of New York Mellon Corp lowered its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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).

A number of other large investors have also added to or reduced their stakes in CAH. Cyrus J. Lawrence LLC acquired a new position in shares of Cardinal Health during the fourth quarter worth $26,000. Bellwether Advisors LLC bought a new position in Cardinal Health during the 4th quarter worth $32,000. Tompkins Financial Corp lifted its holdings in Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after buying an additional 128 shares during the period. Lee Danner & Bass Inc. bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $35,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $36,000. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America lifted their price objective on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Robert W. Baird upped their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 5th. Finally, Citigroup reissued a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.43.

Cardinal Health Trading Down 0.1%

CAH traded down $0.13 on Wednesday, hitting $164.32. 1,492,796 shares of the company's stock were exchanged, compared to its average volume of 2,242,926. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $168.44. The firm has a 50-day moving average price of $156.66 and a 200-day moving average price of $137.98. The stock has a market cap of $39.22 billion, a price-to-earnings ratio of 25.63, a P/E/G ratio of 1.63 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last issued 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 0.70% and a negative return on equity of 68.84%. The business had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. The company's revenue was up .0% compared to the same quarter last year. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.24%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's payout ratio is 31.83%.

Cardinal Health 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.