Edgestream Partners L.P. Has $2.20 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Edgestream Partners L.P. raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 118.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,001 shares of the company's stock after buying an additional 8,688 shares during the period. Edgestream Partners L.P.'s holdings in Cardinal Health were worth $2,204,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CAH. Geode Capital Management LLC increased its stake in shares of Cardinal Health by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock worth $691,145,000 after purchasing an additional 109,273 shares during the period. Invesco Ltd. increased its stake in shares of Cardinal Health by 4.6% in the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after purchasing an additional 140,368 shares during the period. Marshall Wace LLP increased its stake in shares of Cardinal Health by 154.6% in the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after purchasing an additional 1,913,892 shares during the period. Northern Trust Corp increased its stake in shares of Cardinal Health by 16.2% in the fourth quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock worth $359,286,000 after purchasing an additional 422,755 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cardinal Health by 4.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock worth $274,599,000 after purchasing an additional 94,768 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

NYSE CAH traded down $0.01 during trading on Friday, reaching $159.45. 2,035,339 shares of the company traded hands, compared to its average volume of 2,236,166. The stock's 50 day moving average price is $158.45 and its two-hundred day moving average price is $139.91. The company has a market cap of $38.06 billion, a price-to-earnings ratio of 24.88, a P/E/G ratio of 1.60 and a beta of 0.68. Cardinal Health, Inc. has a 1-year low of $94.29 and a 1-year high of $168.44.

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 company had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The company's quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $2.08 earnings per share. Equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.28%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, July 1st. Cardinal Health's payout ratio is presently 31.83%.

Analysts Set New Price Targets

CAH has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Evercore ISI restated an "outperform" rating and set a $180.00 price target (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Citigroup restated a "neutral" rating and set a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, UBS Group boosted their price target on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Three equities research 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 stock. Based on data from MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and a consensus target price of $158.07.

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.