Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 38.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,743 shares of the company's stock after buying an additional 3,011 shares during the quarter. Farther Finance Advisors LLC's holdings in Cardinal Health were worth $1,473,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC acquired a new position in shares of Cardinal Health during the fourth quarter worth approximately $93,000. Kestra Private Wealth Services LLC raised its position in shares of Cardinal Health by 23.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 16,593 shares of the company's stock worth $1,962,000 after purchasing an additional 3,177 shares during the period. Essex Financial Services Inc. acquired a new position in shares of Cardinal Health during the fourth quarter worth approximately $213,000. Kentucky Trust Co purchased a new stake in Cardinal Health in the 4th quarter valued at $41,000. Finally, Consolidated Planning Corp raised its position in Cardinal Health by 40.0% in the 4th quarter. Consolidated Planning Corp now owns 8,926 shares of the company's stock valued at $1,056,000 after buying an additional 2,552 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Cardinal Health stock traded up $0.76 during midday trading on Friday, reaching $161.28. The company's stock had a trading volume of 2,722,179 shares, compared to its average volume of 2,227,826. The stock's 50-day simple moving average is $146.04 and its 200-day simple moving average is $132.62. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $162.94. The stock has a market capitalization of $38.49 billion, a P/E ratio of 30.09, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The company's revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company earned $2.08 earnings per share. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm 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 is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's dividend payout ratio is currently 31.83%.

Analyst Ratings Changes

CAH has been the subject of several research analyst reports. UBS Group raised their target price on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley raised their target price on Cardinal Health from $166.00 to $181.00 and gave the company an "overweight" rating in a research report on Friday. Evercore ISI raised their target price on Cardinal Health from $175.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday. Citigroup raised their target price on Cardinal Health from $157.00 to $170.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Wells Fargo & Company raised 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 research report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $157.43.

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.