Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 28.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,692 shares of the company's stock after acquiring an additional 10,122 shares during the quarter. IFM Investors Pty Ltd's holdings in Cardinal Health were worth $6,295,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CAH. Cyrus J. Lawrence LLC acquired a new position in shares of Cardinal Health during the fourth quarter worth about $26,000. Bellwether Advisors LLC purchased a new stake in Cardinal Health during the fourth quarter worth about $32,000. Tompkins Financial Corp boosted its holdings in Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after buying an additional 128 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in Cardinal Health during the fourth quarter worth about $35,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Cardinal Health during the fourth quarter worth about $36,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Down 1.7%

Shares of CAH traded down $2.83 on Tuesday, hitting $164.80. 817,147 shares of the stock traded hands, compared to its average volume of 2,467,969. The firm has a market capitalization of $39.33 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.63 and a beta of 0.68. The stock's 50 day moving average is $156.17 and its two-hundred day moving average is $137.79. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $168.44.

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

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.24%. Cardinal Health's dividend payout ratio is presently 31.83%.

Analyst Ratings Changes

CAH has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Evercore ISI reissued an "outperform" rating and set a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Bank of America boosted their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Mizuho boosted their price objective 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. Finally, Robert W. Baird boosted 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. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.