Janney Montgomery Scott LLC Lowers Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Janney Montgomery Scott LLC lessened its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 237,219 shares of the company's stock after selling 13,806 shares during the period. Janney Montgomery Scott LLC owned about 0.10% of Cardinal Health worth $32,682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cyrus J. Lawrence LLC bought a new position in Cardinal Health during the fourth quarter worth $26,000. Tompkins Financial Corp grew its holdings in Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after acquiring an additional 128 shares during the period. Promus Capital LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at about $30,000. Bellwether Advisors LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at about $32,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CAH. Morgan Stanley set a $181.00 target price on Cardinal Health and gave the stock an "overweight" rating in a report on Friday, June 13th. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Citigroup reissued a "neutral" rating and set a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. 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 report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.43.

Cardinal Health Price Performance

Shares of NYSE:CAH traded up $0.60 during midday trading on Thursday, hitting $165.51. 2,598,098 shares of the company's stock were exchanged, compared to its average volume of 2,228,577. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $166.03. The company has a market cap of $39.50 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.84 and a beta of 0.66. The stock has a 50 day moving average price of $148.17 and a 200-day moving average price of $133.48.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The company's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 EPS. On average, analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.23%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is 31.51%.

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.