Insigneo Advisory Services LLC Purchases New Position in Cardinal Health, Inc. (NYSE:CAH)

Insigneo Advisory Services LLC acquired a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,071 shares of the company's stock, valued at approximately $285,000.

Several other institutional investors and hedge funds have also bought and sold shares of CAH. Geode Capital Management LLC raised its position in shares of Cardinal Health by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock worth $691,145,000 after acquiring an additional 109,273 shares in the last quarter. Invesco Ltd. grew its stake in Cardinal Health by 4.6% in the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after purchasing an additional 140,368 shares during the period. Marshall Wace LLP raised its holdings in Cardinal Health by 154.6% in the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after purchasing an additional 1,913,892 shares in the last quarter. Northern Trust Corp raised its holdings in Cardinal Health by 16.2% in the fourth quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock worth $359,286,000 after purchasing an additional 422,755 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cardinal Health by 4.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock valued at $274,599,000 after buying an additional 94,768 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 0.4%

Shares of CAH opened at $165.51 on Friday. The company has a market cap of $39.50 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 1.85 and a beta of 0.66. The business's fifty day simple moving average is $148.90 and its two-hundred day simple moving average is $133.78. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $166.03.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS 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 for the quarter, compared to analysts' expectations of $55.33 billion. During the same period last year, the firm posted $2.08 earnings per share. Cardinal Health's revenue was up .0% compared to the same quarter last year. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given 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 of this dividend is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.23%. Cardinal Health's dividend payout ratio is 31.51%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAH. UBS Group upped their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. 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 note on Tuesday, June 3rd. Citigroup reiterated a "neutral" rating and set a $170.00 target price (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Finally, Morgan Stanley set a $181.00 price target on Cardinal Health and gave the stock an "overweight" rating in a research note on Friday, June 13th. 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.

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