Campbell & CO Investment Adviser LLC Raises Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Campbell & CO Investment Adviser LLC significantly increased its stake in Cardinal Health, Inc. by 923.3% during the first quarter, making it the firm's biggest holding valued at over $9 million.
• Analysts have mixed ratings on Cardinal Health, with a consensus rating of "Moderate Buy" and price targets ranging from $158.07 to $190.00.
• Cardinal Health announced a quarterly dividend increase to $0.5107, representing an annual yield of 1.3%, reflecting a healthy payout ratio of 31.83%.

Campbell & CO Investment Adviser LLC grew its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 923.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,643 shares of the company's stock after acquiring an additional 59,228 shares during the period. Cardinal Health accounts for 0.7% of Campbell & CO Investment Adviser LLC's holdings, making the stock its biggest holding. Campbell & CO Investment Adviser LLC's holdings in Cardinal Health were worth $9,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Cardinal Health in the first quarter worth $26,000. Tompkins Financial Corp lifted its stake in shares of Cardinal Health by 106.7% in the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after buying an additional 128 shares in the last quarter. Bellwether Advisors LLC purchased a new position in Cardinal Health during the fourth quarter worth about $32,000. GW&K Investment Management LLC raised its stake in Cardinal Health by 113.4% during the first quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock worth $37,000 after purchasing an additional 144 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Cardinal Health during the fourth quarter valued at about $36,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CAH shares. Wall Street Zen downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday. UBS Group boosted their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Bank of America upped their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Morgan Stanley increased their price objective on shares of Cardinal Health from $181.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Citigroup reissued a "neutral" rating and issued a $170.00 price objective (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 and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $158.07.

Cardinal Health Trading Up 0.5%

Shares of NYSE CAH opened at $155.97 on Friday. Cardinal Health, Inc. has a 12 month low of $96.05 and a 12 month high of $168.44. The stock has a 50 day moving average of $159.74 and a 200-day moving average of $142.83. The company has a market capitalization of $37.23 billion, a P/E ratio of 24.33, a P/E/G ratio of 1.55 and a beta of 0.67.

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

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is currently 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.

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