1,817 Shares in Cardinal Health, Inc. (NYSE:CAH) Acquired by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,817 shares of the company's stock, valued at approximately $250,000.

Other institutional investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. increased its stake in Cardinal Health by 11.2% in the 1st quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock worth $106,000 after buying an additional 77 shares during the period. Golden State Wealth Management LLC increased its stake 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 buying an additional 336 shares during the period. Golden State Equity Partners purchased a new position in Cardinal Health in the 1st quarter worth about $433,000. Asset Management One Co. Ltd. increased its stake in Cardinal Health by 10.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 135,595 shares of the company's stock worth $18,681,000 after buying an additional 12,960 shares during the period. Finally, GHP Investment Advisors Inc. increased its stake in Cardinal Health by 3.3% in the 1st quarter. GHP Investment Advisors Inc. now owns 38,830 shares of the company's stock worth $5,350,000 after buying an additional 1,246 shares during the period. Institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CAH. Robert W. Baird raised their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. UBS Group raised their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Mizuho raised their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Finally, Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their target price for the company 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cardinal Health has an average rating of "Moderate Buy" and a consensus price target of $157.43.

Cardinal Health Trading Down 2.3%

Shares of NYSE:CAH traded down $3.91 during trading on Tuesday, reaching $164.09. The stock had a trading volume of 2,785,413 shares, compared to its average volume of 2,240,353. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $168.44. The company has a market capitalization of $39.17 billion, a P/E ratio of 25.60, a PEG ratio of 1.87 and a beta of 0.68. The firm's 50-day simple moving average is $153.91 and its 200 day simple moving average is $136.31.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results 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. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The business had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. During the same period last year, the business earned $2.08 EPS. The company's revenue was up .0% compared to the same quarter last year. Equities research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business 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. The ex-dividend date is Tuesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.24%. Cardinal Health's dividend payout ratio (DPR) is 31.83%.

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.