Cardinal Health, Inc. (NYSE:CAH) Stake Increased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,595 shares of the company's stock after buying an additional 12,960 shares during the period. Asset Management One Co. Ltd. owned about 0.06% of Cardinal Health worth $18,681,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc increased its stake in Cardinal Health by 34.3% during the fourth quarter. IFP Advisors Inc now owns 2,701 shares of the company's stock valued at $319,000 after purchasing an additional 690 shares during the last quarter. Rothschild Investment LLC increased its stake in Cardinal Health by 10.1% during the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company's stock valued at $101,000 after purchasing an additional 79 shares during the last quarter. Denali Advisors LLC bought a new stake in Cardinal Health during the fourth quarter valued at $3,908,000. Cutter & CO Brokerage Inc. increased its stake in Cardinal Health by 2.4% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 5,644 shares of the company's stock valued at $668,000 after purchasing an additional 134 shares during the last quarter. Finally, Advisor OS LLC increased its stake in Cardinal Health by 15.5% during the fourth quarter. Advisor OS LLC now owns 8,043 shares of the company's stock valued at $951,000 after purchasing an additional 1,080 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Down 0.3%

CAH stock opened at $163.77 on Thursday. The company has a market capitalization of $39.09 billion, a P/E ratio of 25.55, a PEG ratio of 1.83 and a beta of 0.66. The company has a 50-day simple moving average of $151.30 and a 200 day simple moving average of $134.89. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $166.32.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results 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 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%. Cardinal Health's revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company earned $2.08 EPS. Equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.25%. 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 payout ratio is presently 31.51%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAH. UBS Group boosted their target price 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. Mizuho boosted their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. 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. Morgan Stanley set a $181.00 price target on shares of Cardinal Health and gave the stock an "overweight" rating in a research report on Friday, June 13th. Finally, Bank of America upped their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cardinal Health has a consensus rating of "Moderate Buy" and a consensus 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.

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