Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 49.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,518 shares of the company's stock after buying an additional 3,140 shares during the quarter. Redhawk Wealth Advisors Inc.'s holdings in Cardinal Health were worth $1,311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cyrus J. Lawrence LLC purchased a new stake in Cardinal Health during the fourth quarter worth approximately $26,000. Tompkins Financial Corp lifted its stake in Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after purchasing an additional 128 shares during the last quarter. Promus Capital LLC purchased a new stake in Cardinal Health during the fourth quarter worth approximately $30,000. Bellwether Advisors LLC purchased a new stake in Cardinal Health during the fourth quarter worth approximately $32,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Cardinal Health during the fourth quarter worth approximately $35,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CAH shares. Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Bank of America boosted their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday. Evercore ISI boosted their price objective on Cardinal Health from $175.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday. Citigroup reiterated a "neutral" rating on shares of Cardinal Health in a research note on Thursday, May 1st. Finally, UBS Group boosted their price objective on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Three 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 stock. According to MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average target price of $153.43.

Cardinal Health Price Performance

Shares of NYSE:CAH traded up $6.90 during trading on Thursday, reaching $160.43. The company had a trading volume of 2,968,015 shares, compared to its average volume of 2,225,422. The firm has a market capitalization of $38.29 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The stock's fifty day moving average price is $145.31 and its 200 day moving average price is $132.35. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $161.07.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (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 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 for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 earnings per share. On average, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS 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. Investors of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is currently 31.83%.

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.