Oppenheimer & Co. Inc. Buys 11,020 Shares of Cardinal Health, Inc. (NYSE:CAH)

Oppenheimer & Co. Inc. lifted its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 489.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,273 shares of the company's stock after purchasing an additional 11,020 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Cardinal Health were worth $1,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAH. Cyrus J. Lawrence LLC purchased a new stake in Cardinal Health in the fourth quarter worth approximately $26,000. Promus Capital LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at $30,000. Bellwether Advisors LLC purchased a new position in shares of Cardinal Health in the 4th quarter worth $32,000. Tompkins Financial Corp boosted its stake in shares of Cardinal Health by 106.7% in the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after buying an additional 128 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Cardinal Health in the fourth quarter worth $35,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Performance

Shares of CAH traded up $1.57 during mid-day trading on Friday, reaching $167.18. The stock had a trading volume of 2,603,370 shares, compared to its average volume of 2,231,720. The business has a fifty day moving average of $152.57 and a 200 day moving average of $135.64. The firm has a market cap of $39.90 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.87 and a beta of 0.66. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $168.17.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The company had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. Cardinal Health's quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.22%. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is currently 31.51%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAH. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Bank of America upped their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Morgan Stanley set a $181.00 price objective on shares of Cardinal Health and gave the stock an "overweight" rating in a report on Friday, June 13th. UBS Group boosted their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Citigroup reiterated a "neutral" rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cardinal Health currently has a consensus rating of "Moderate Buy" and an average target price 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.