Merit Financial Group LLC Raises Stake in Cardinal Health, Inc. (NYSE:CAH)

Merit Financial Group LLC boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 78.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,522 shares of the company's stock after acquiring an additional 2,862 shares during the period. Merit Financial Group LLC's holdings in Cardinal Health were worth $898,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Cardinal Health during the fourth quarter worth $246,748,000. Marshall Wace LLP boosted its position in shares of Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after acquiring an additional 1,913,892 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth about $141,963,000. GAMMA Investing LLC increased its holdings in shares of Cardinal Health by 17,589.1% in the 1st quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after acquiring an additional 959,486 shares during the last quarter. Finally, Junto Capital Management LP acquired a new stake in shares of Cardinal Health during the 4th quarter worth about $92,811,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CAH. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Citigroup reaffirmed a "neutral" rating on shares of Cardinal Health in a research report on Thursday, May 1st. Robert W. Baird lifted their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley upped their price objective on shares of Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Mizuho lifted their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus target price of $149.50.

Cardinal Health Stock Up 0.4%

Shares of CAH stock opened at $154.68 on Monday. The stock's 50-day moving average price is $143.52 and its 200 day moving average price is $131.57. The stock has a market capitalization of $36.92 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $157.82.

Cardinal Health (NYSE:CAH - Get Free Report) last released its 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. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The business had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The company's revenue for the quarter was up .0% compared to the same quarter last year. Analysts expect 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 will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's payout ratio is currently 31.83%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.