Longboard Asset Management LP Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Longboard Asset Management LP bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,667 shares of the company's stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rothschild Investment LLC raised its position in shares of Cardinal Health by 10.1% in the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company's stock worth $101,000 after acquiring an additional 79 shares in the last quarter. CSS LLC IL grew its stake in Cardinal Health by 0.8% during the fourth quarter. CSS LLC IL now owns 11,190 shares of the company's stock worth $1,323,000 after purchasing an additional 90 shares during the period. Smith Shellnut Wilson LLC ADV grew its stake in Cardinal Health by 2.1% during the first quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock worth $606,000 after purchasing an additional 91 shares during the period. Private Trust Co. NA increased its holdings in Cardinal Health by 11.0% in the fourth quarter. Private Trust Co. NA now owns 930 shares of the company's stock worth $110,000 after purchasing an additional 92 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in Cardinal Health by 2.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company's stock valued at $411,000 after buying an additional 93 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on CAH. Morgan Stanley set a $181.00 price objective on shares of Cardinal Health and gave the stock an "overweight" rating in a research report on Friday, June 13th. UBS Group upped their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 5th. Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Finally, Robert W. Baird upped their price target on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $157.43.

Cardinal Health Stock Up 1.1%

CAH stock traded up $1.86 during trading on Thursday, reaching $165.61. The stock had a trading volume of 1,552,527 shares, compared to its average volume of 2,238,012. The company has a market capitalization of $39.53 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 1.83 and a beta of 0.66. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $166.32. The company's 50 day moving average is $151.92 and its two-hundred day moving average is $135.19.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $54.88 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $2.08 earnings per share. As a group, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share 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. Stockholders of record on Tuesday, July 1st will be issued a $0.5107 dividend. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's dividend payout ratio (DPR) is presently 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.