Banque Cantonale Vaudoise Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Banque Cantonale Vaudoise acquired a new stake in Cardinal Health, purchasing 14,356 shares valued at approximately $1,978,000 in the first quarter.
• Cardinal Health recently announced an increase in its quarterly dividend to $0.5107 per share, providing a yield of 1.29%.
• Several analysts have upgraded Cardinal Health's rating, with Wall Street Zen changing it from "buy" to "strong-buy" and Evercore ISI raising its price objective to $180.00.

Banque Cantonale Vaudoise bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,356 shares of the company's stock, valued at approximately $1,978,000.

Several other large investors also recently bought and sold shares of the stock. Federated Hermes Inc. boosted its stake in Cardinal Health by 36.7% in the first quarter. Federated Hermes Inc. now owns 790,641 shares of the company's stock valued at $108,927,000 after acquiring an additional 212,274 shares in the last quarter. Cozad Asset Management Inc. boosted its stake in Cardinal Health by 8.2% in the first quarter. Cozad Asset Management Inc. now owns 27,963 shares of the company's stock valued at $3,852,000 after acquiring an additional 2,113 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in Cardinal Health by 9.9% in the first quarter. Meeder Advisory Services Inc. now owns 4,788 shares of the company's stock valued at $660,000 after acquiring an additional 430 shares in the last quarter. Marvin & Palmer Associates Inc. acquired a new position in Cardinal Health in the first quarter valued at $3,246,000. Finally, JSF Financial LLC boosted its stake in Cardinal Health by 10.7% in the first quarter. JSF Financial LLC now owns 9,051 shares of the company's stock valued at $1,247,000 after acquiring an additional 873 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Performance

NYSE:CAH traded up $0.75 during mid-day trading on Friday, reaching $155.97. The stock had a trading volume of 1,592,812 shares, compared to its average volume of 1,631,874. The firm has a market capitalization of $37.23 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.54 and a beta of 0.67. Cardinal Health, Inc. has a twelve month low of $96.05 and a twelve month high of $168.44. The business has a 50 day simple moving average of $159.74 and a 200 day simple moving average of $142.70.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The firm had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The firm's revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 earnings per share. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was 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 Analyst Weigh In

Several equities analysts have issued reports on the stock. Bank of America upped their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Morgan Stanley raised their price target on Cardinal Health from $181.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Evercore ISI reissued an "outperform" rating and set a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. UBS Group raised their price target on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Robert W. Baird raised their price target on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $158.07.

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.