Exchange Traded Concepts LLC Has $293,000 Stake in Cardinal Health, Inc. (NYSE:CAH)

Exchange Traded Concepts LLC decreased its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 76.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,124 shares of the company's stock after selling 6,824 shares during the period. Exchange Traded Concepts LLC's holdings in Cardinal Health were worth $293,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new position in shares of Cardinal Health in the 1st quarter valued at about $199,000. Hennessy Advisors Inc. bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $2,948,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Cardinal Health by 15.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,790 shares of the company's stock valued at $4,931,000 after buying an additional 4,693 shares in the last quarter. Goldstone Financial Group LLC bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $200,000. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in shares of Cardinal Health by 0.8% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 11,981 shares of the company's stock valued at $1,651,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Trading Down 1.4%

CAH opened at $163.08 on Friday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $166.32. The stock has a market capitalization of $38.92 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 1.82 and a beta of 0.66. The business has a 50 day moving average of $149.53 and a 200-day moving average of $134.12.

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

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.25%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's dividend payout ratio is presently 31.51%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CAH. Bank of America boosted their price target on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Robert W. Baird boosted their price target on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Citigroup reissued a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Mizuho boosted their price target on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.

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