Envestnet Portfolio Solutions Inc. Purchases 2,862 Shares of Cardinal Health, Inc. (NYSE:CAH)

Envestnet Portfolio Solutions Inc. boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 6.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,053 shares of the company's stock after buying an additional 2,862 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Cardinal Health were worth $6,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC bought a new position in Cardinal Health in the 4th quarter worth $26,000. Tompkins Financial Corp raised its holdings in Cardinal Health by 106.7% in the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after purchasing an additional 128 shares in the last quarter. Promus Capital LLC bought a new position in Cardinal Health in the 4th quarter worth $30,000. Bellwether Advisors LLC bought a new position in Cardinal Health in the 4th quarter worth $32,000. Finally, Lee Danner & Bass Inc. bought a new position in Cardinal Health in the 4th quarter worth $35,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CAH. Robert W. Baird upped their price objective 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. Evercore ISI restated an "outperform" rating and issued a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. UBS Group upped their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley set a $181.00 price objective on shares of Cardinal Health and gave the stock an "overweight" rating in a report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and an average target price of $157.43.

Cardinal Health Price Performance

NYSE CAH traded down $2.32 during trading hours on Friday, reaching $163.08. 4,642,719 shares of the company's stock traded hands, compared to its average volume of 2,226,594. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $166.32. The firm has a market cap of $38.92 billion, a PE ratio of 25.44, a PEG ratio of 1.82 and a beta of 0.66. The firm has a 50-day simple moving average of $149.53 and a 200 day simple moving average of $134.12.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. During the same period last year, the company posted $2.08 EPS. Cardinal Health's revenue was up .0% on a year-over-year basis. Sell-side analysts forecast 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 will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. 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 yield of 1.25%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's dividend payout ratio (DPR) is currently 31.51%.

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.