Fedenia Advisers LLC Acquires 1,646 Shares of Cardinal Health, Inc. (NYSE:CAH)

Fedenia Advisers LLC grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 54.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,652 shares of the company's stock after purchasing an additional 1,646 shares during the period. Fedenia Advisers LLC's holdings in Cardinal Health were worth $641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in shares of Cardinal Health by 1.2% during the 4th quarter. Huntington National Bank now owns 10,920 shares of the company's stock worth $1,292,000 after acquiring an additional 128 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in Cardinal Health by 17.2% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock worth $429,000 after purchasing an additional 457 shares in the last quarter. Fisher Asset Management LLC purchased a new position in Cardinal Health in the fourth quarter valued at about $368,000. Golden State Wealth Management LLC boosted its holdings in Cardinal Health by 569.5% in the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after acquiring an additional 336 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Cardinal Health by 25.8% during the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after acquiring an additional 2,694 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock traded up $2.82 during trading on Friday, hitting $164.80. 1,234,057 shares of the stock traded hands, compared to its average volume of 2,245,561. The stock has a market cap of $39.33 billion, a P/E ratio of 25.71, a PEG ratio of 1.60 and a beta of 0.68. The company has a fifty day moving average price of $155.04 and a two-hundred day moving average price of $136.82. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the firm earned $2.08 earnings per share. The business's quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given 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 1.24%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's dividend payout ratio (DPR) is currently 31.83%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their price target on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley set a $181.00 price objective on Cardinal Health and gave the company an "overweight" rating in a research report on Friday, June 13th. Robert W. Baird lifted their price target on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Citigroup reissued a "neutral" rating and set a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Finally, Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Three investment 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.43.

About Cardinal Health

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.