Massachusetts Financial Services Co. MA Has $2.52 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Massachusetts Financial Services Co. MA increased its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 196.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,320 shares of the company's stock after buying an additional 12,140 shares during the period. Massachusetts Financial Services Co. MA's holdings in Cardinal Health were worth $2,524,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its stake in shares of Cardinal Health by 11.2% during the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock worth $106,000 after buying an additional 77 shares during the last quarter. CSS LLC IL increased its position in shares of Cardinal Health by 0.8% during the fourth quarter. CSS LLC IL now owns 11,190 shares of the company's stock valued at $1,323,000 after buying an additional 90 shares during the period. Perigon Wealth Management LLC lifted its stake in Cardinal Health by 4.2% during the first quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock worth $309,000 after purchasing an additional 90 shares during the last quarter. Smith Shellnut Wilson LLC ADV increased its holdings in shares of Cardinal Health by 2.1% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock worth $606,000 after buying an additional 91 shares during the period. Finally, TIAA Trust National Association raised its holdings in Cardinal Health by 4.5% during the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock valued at $258,000 after buying an additional 94 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of NYSE:CAH traded up $0.70 during trading on Thursday, reaching $158.46. 589,041 shares of the company's stock traded hands, compared to its average volume of 2,398,276. The company has a 50 day moving average of $159.06 and a 200-day moving average of $140.89. The stock has a market capitalization of $37.82 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 1.56 and a beta of 0.68. Cardinal Health, Inc. has a 12 month low of $96.05 and a 12 month high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $54.88 billion for 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 firm's revenue was up .0% compared to the same quarter last year. During the same period last year, the business earned $2.08 EPS. Equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.29%. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, July 1st. Cardinal Health's dividend payout ratio is currently 31.83%.

Analyst Ratings Changes

CAH has been the subject of several analyst reports. Evercore ISI reissued an "outperform" rating and set a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Mizuho upped their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Finally, Bank of America lifted their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $158.07.

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.