Cozad Asset Management Inc. Grows Stake in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Cozad Asset Management Inc. has increased its stake in Cardinal Health by 8.2%, now owning 27,963 shares valued at approximately $3.85 million.
• Cardinal Health recently reported earnings of $2.35 EPS, beating estimates, and had a revenue of $54.88 billion for the quarter.
• The company is increasing its quarterly dividend to $0.5107 per share, representing an annual yield of 1.31% with a payout ratio of 31.83%.

Cozad Asset Management Inc. increased its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,963 shares of the company's stock after acquiring an additional 2,113 shares during the period. Cozad Asset Management Inc.'s holdings in Cardinal Health were worth $3,852,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Tompkins Financial Corp boosted its holdings in Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after purchasing an additional 128 shares in the last quarter. Bellwether Advisors LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at $32,000. GW&K Investment Management LLC increased its position in Cardinal Health by 113.4% in the first quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock worth $37,000 after purchasing an additional 144 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Cardinal Health during the 4th quarter valued at $36,000. Finally, NBC Securities Inc. bought a new stake in shares of Cardinal Health during the 1st quarter valued at $48,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of NYSE:CAH traded up $1.05 during midday trading on Friday, hitting $156.27. 985,849 shares of the company's stock were exchanged, compared to its average volume of 2,374,479. The stock has a 50 day moving average price of $159.67 and a 200-day moving average price of $142.48. The company has a market cap of $37.30 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 1.57 and a beta of 0.68. Cardinal Health, Inc. has a 12 month low of $96.05 and a 12 month high of $168.44.

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

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is currently 31.83%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CAH shares. Morgan Stanley upped their price objective on shares of Cardinal Health from $181.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Bank of America upped their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Citigroup reissued a "neutral" rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Robert W. Baird raised their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.07.

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.