Park National Corp OH Sells 5,420 Shares of Cardinal Health, Inc. (NYSE:CAH)

Park National Corp OH decreased its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,187 shares of the company's stock after selling 5,420 shares during the period. Park National Corp OH's holdings in Cardinal Health were worth $11,598,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cyrus J. Lawrence LLC bought a new position in shares of Cardinal Health in the 4th quarter valued at about $26,000. Promus Capital LLC bought a new position in Cardinal Health in the fourth quarter valued at approximately $30,000. Bellwether Advisors LLC bought a new position in Cardinal Health in the fourth quarter valued at approximately $32,000. Lee Danner & Bass Inc. bought a new position in Cardinal Health in the fourth quarter valued at approximately $35,000. Finally, Itau Unibanco Holding S.A. bought a new position in Cardinal Health in the fourth quarter valued at approximately $36,000. Institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAH. Bank of America raised their price target on Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Robert W. Baird raised their target price on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. UBS Group raised their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley raised their target price on Cardinal Health from $142.00 to $166.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Mizuho lifted their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of "Moderate Buy" and an average target price of $146.43.

Cardinal Health Price Performance

CAH traded up $0.47 during trading on Friday, reaching $154.46. The company had a trading volume of 2,759,499 shares, compared to its average volume of 2,229,497. The company has a market cap of $36.87 billion, a P/E ratio of 28.82, 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 $156.44. The business's fifty day moving average price is $141.70 and its 200 day moving average price is $130.26.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.15 by $0.20. The business had revenue of $54.88 billion for 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 firm's revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 EPS. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS 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 paid a $0.5107 dividend. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.32%. Cardinal Health's payout ratio is presently 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.