Callahan Advisors LLC Sells 7,261 Shares of Cardinal Health, Inc. (NYSE:CAH)

Callahan Advisors LLC reduced its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 12.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,067 shares of the company's stock after selling 7,261 shares during the period. Callahan Advisors LLC's holdings in Cardinal Health were worth $7,173,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Robert W. Baird lifted 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. Bank of America boosted their price target on 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 set a $181.00 target price on Cardinal Health and gave the stock an "overweight" rating in a research note on Friday, June 13th. UBS Group upped their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Citigroup reiterated a "neutral" rating and set a $170.00 price target (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $157.43.

Cardinal Health Trading Down 1.4%

Shares of Cardinal Health stock opened at $161.95 on Friday. The business has a 50-day moving average price of $157.45 and a two-hundred day moving average price of $138.46. 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 $38.65 billion, a P/E ratio of 25.27, a PEG ratio of 1.63 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping 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 negative return on equity of 68.84% and a net margin of 0.70%. The business's revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted $2.08 EPS. Equities research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is 31.83%.

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.

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