Bessemer Group Inc. Trims Holdings in Cardinal Health, Inc. (NYSE:CAH)

Bessemer Group Inc. reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 77.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,259 shares of the company's stock after selling 14,711 shares during the period. Bessemer Group Inc.'s holdings in Cardinal Health were worth $587,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Cyrus J. Lawrence LLC purchased a new stake in shares of Cardinal Health during the 4th quarter valued at approximately $26,000. Promus Capital LLC purchased a new stake in Cardinal Health in the fourth quarter valued at $30,000. Bellwether Advisors LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $32,000. Tompkins Financial Corp lifted its stake in shares of Cardinal Health by 106.7% in the 1st 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 last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Cardinal Health during the 4th quarter worth $35,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of CAH traded up $2.82 during midday trading on Friday, reaching $164.80. The stock had a trading volume of 1,234,057 shares, compared to its average volume of 2,245,561. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $168.44. The company has a market cap of $39.33 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.60 and a beta of 0.68. The company's fifty day simple moving average is $155.04 and its two-hundred day simple moving average is $136.82.

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 analysts' consensus estimates 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%. The business's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.08 EPS. On average, sell-side analysts forecast 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. Investors of record on Tuesday, July 1st will be given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.24%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's dividend payout ratio (DPR) is 31.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CAH shares. Bank of America lifted their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. UBS Group raised their price target on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Citigroup reiterated a "neutral" rating and issued a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $136.00 to $179.00 in a report on Tuesday, June 3rd. Finally, Morgan Stanley set a $181.00 price target on shares of Cardinal Health and gave the stock an "overweight" rating in a research report on Friday, June 13th. Three investment 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 stock. According to MarketBeat.com, the stock 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.