Envestnet Asset Management Inc. Has $95.88 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Envestnet Asset Management Inc. grew its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 15.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 695,949 shares of the company's stock after purchasing an additional 95,127 shares during the period. Envestnet Asset Management Inc. owned about 0.29% of Cardinal Health worth $95,881,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Cardinal Health by 5.3% in the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock valued at $43,510,000 after purchasing an additional 15,956 shares during the last quarter. Huntington National Bank raised its holdings in shares of Cardinal Health by 1.2% in the fourth quarter. Huntington National Bank now owns 10,920 shares of the company's stock valued at $1,292,000 after purchasing an additional 128 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of Cardinal Health by 17.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock valued at $429,000 after purchasing an additional 457 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Cardinal Health by 569.5% in the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock valued at $54,000 after purchasing an additional 336 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Cardinal Health by 25.8% in the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after purchasing an additional 2,694 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Down 0.8%

Shares of NYSE:CAH traded down $1.30 on Friday, hitting $160.87. The company had a trading volume of 1,314,182 shares, compared to its average volume of 2,241,478. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $168.44. The stock has a market cap of $38.40 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 1.59 and a beta of 0.68. The stock has a 50 day moving average price of $157.67 and a 200 day moving average price of $138.89.

Cardinal Health (NYSE:CAH - Get Free Report) last released 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. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The firm had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The company's quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal 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 $0.5107 dividend. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's payout ratio is currently 31.83%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CAH. Bank of America lifted their price objective 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. Morgan Stanley set a $181.00 target price on shares of Cardinal Health and gave the stock an "overweight" rating in a report on Friday, June 13th. Mizuho boosted their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Citigroup restated a "neutral" rating and set a $170.00 target price (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Finally, Robert W. Baird boosted 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. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.43.

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.