Tobam Reduces Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Tobam reduced its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 59.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,933 shares of the company's stock after selling 13,356 shares during the period. Tobam's holdings in Cardinal Health were worth $1,231,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CAH. Cyrus J. Lawrence LLC bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $26,000. Promus Capital LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at approximately $30,000. Bellwether Advisors LLC acquired a new stake in Cardinal Health in the 4th quarter worth approximately $32,000. Tompkins Financial Corp boosted its stake in Cardinal Health by 106.7% in the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after purchasing an additional 128 shares in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in Cardinal Health in the 4th quarter worth approximately $35,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of recent analyst reports. Evercore ISI reiterated an "outperform" rating and issued a $180.00 target price (up from $175.00) on shares of Cardinal Health in a research note on Thursday. Morgan Stanley set a $181.00 price objective on shares of Cardinal Health and gave the company an "overweight" rating in a research note on Friday. Citigroup restated a "neutral" rating and set a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research note on Friday. UBS Group lifted 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. Finally, Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus price target of $157.43.

Cardinal Health Price Performance

NYSE CAH traded up $1.02 on Monday, hitting $162.43. The company had a trading volume of 2,029,791 shares, compared to its average volume of 2,230,175. The company's fifty day moving average price is $146.79 and its 200-day moving average price is $133.04. The company has a market capitalization of $38.77 billion, a PE ratio of 30.30, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $162.94.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 earnings per share. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.26%. 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. Cardinal Health's dividend payout ratio is 31.83%.

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.