Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Spire Wealth Management

Spire Wealth Management decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 81.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,339 shares of the company's stock after selling 19,496 shares during the quarter. Spire Wealth Management's holdings in Cardinal Health were worth $598,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CAH. Cyrus J. Lawrence LLC purchased a new position in shares of Cardinal Health during the fourth quarter worth $26,000. Promus Capital LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $30,000. Bellwether Advisors LLC purchased a new position in shares of Cardinal Health during the 4th quarter valued at about $32,000. Tompkins Financial Corp lifted its holdings in shares of Cardinal Health by 106.7% in the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after buying an additional 128 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Cardinal Health in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Up 1.0%

CAH stock opened at $167.18 on Friday. The stock has a market capitalization of $39.90 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 1.87 and a beta of 0.66. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $168.17. The stock's fifty day simple moving average is $152.57 and its 200-day simple moving average is $135.64.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The company had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. The firm's revenue was up .0% on a year-over-year basis. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 1.22%. The ex-dividend date of this dividend is Tuesday, July 1st. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is currently 31.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CAH shares. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 5th. Robert W. Baird upped 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. Evercore ISI reissued an "outperform" rating and issued a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Bank of America upped their target price on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Mizuho upped their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.

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