Impax Asset Management Group plc Sells 12,868 Shares of Cardinal Health, Inc. (NYSE:CAH)

Impax Asset Management Group plc lowered its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 20.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,254 shares of the company's stock after selling 12,868 shares during the quarter. Impax Asset Management Group plc's holdings in Cardinal Health were worth $6,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAH. Fisher Asset Management LLC bought a new stake in Cardinal Health in the fourth quarter worth $368,000. Jones Financial Companies Lllp boosted its stake in shares of Cardinal Health by 53.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,078 shares of the company's stock worth $837,000 after acquiring an additional 2,477 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Cardinal Health by 249.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 11,104 shares of the company's stock worth $1,313,000 after acquiring an additional 7,930 shares in the last quarter. Keybank National Association OH bought a new stake in Cardinal Health during the fourth quarter worth approximately $257,000. Finally, Assetmark Inc. boosted its holdings in shares of Cardinal Health by 54.3% during the 4th quarter. Assetmark Inc. now owns 57,955 shares of the company's stock worth $6,854,000 after buying an additional 20,394 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Trading Up 1.7%

CAH stock traded up $2.82 during midday trading on Friday, hitting $164.80. The stock had a trading volume of 1,234,057 shares, compared to its average volume of 2,246,270. The firm has a market capitalization of $39.33 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 1.63 and a beta of 0.68. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $168.44. The stock has a 50-day simple moving average of $155.58 and a 200 day simple moving average of $137.31.

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, topping analysts' consensus estimates of $2.15 by $0.20. The company had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The firm's revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm earned $2.08 EPS. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.24%. Cardinal Health's dividend payout ratio (DPR) is currently 31.83%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley set a $181.00 price objective on shares of Cardinal Health and gave the stock an "overweight" rating in a report on Friday, June 13th. Mizuho upped their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Robert W. Baird increased their price objective on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $157.43.

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.