Conning Inc. Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Conning Inc. purchased a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,537 shares of the company's stock, valued at approximately $212,000.

Other large investors have also added to or reduced their stakes in the company. Huntington National Bank grew its holdings in Cardinal Health by 1.2% in the 4th quarter. Huntington National Bank now owns 10,920 shares of the company's stock worth $1,292,000 after acquiring an additional 128 shares during the last quarter. Kingswood Wealth Advisors LLC grew its holdings in Cardinal Health by 17.2% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock worth $429,000 after acquiring an additional 457 shares during the last quarter. Fisher Asset Management LLC bought a new stake in Cardinal Health in the 4th quarter worth $368,000. Golden State Wealth Management LLC grew its holdings in Cardinal Health by 569.5% in the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after acquiring an additional 336 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Cardinal Health by 25.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock worth $1,811,000 after acquiring an additional 2,694 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAH. Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 target price (up from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. UBS Group raised their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Citigroup reaffirmed a "neutral" rating and issued a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Mizuho raised their target price 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. Finally, Morgan Stanley set a $181.00 target price on shares of Cardinal Health and gave the stock an "overweight" rating in a research report on Friday, June 13th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $157.43.

Cardinal Health Stock Performance

NYSE:CAH opened at $164.80 on Friday. The firm has a market cap of $39.33 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.63 and a beta of 0.68. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $168.44. The firm has a 50-day simple moving average of $155.58 and a two-hundred day simple moving average of $137.16.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data 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 business had revenue of $54.88 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $2.08 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. The ex-dividend date is Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.24%. Cardinal Health's payout ratio is currently 31.83%.

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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