Premier Path Wealth Partners LLC Purchases Shares of 1,669 Cardinal Health, Inc. (NYSE:CAH)

Premier Path Wealth Partners LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,669 shares of the company's stock, valued at approximately $230,000.

A number of other hedge funds also recently added to or reduced their stakes in CAH. Norges Bank acquired a new position in shares of Cardinal Health during the fourth quarter valued at $246,748,000. Marshall Wace LLP grew its holdings in Cardinal Health by 154.6% during the fourth 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 during the period. Castlekeep Investment Advisors LLC acquired a new stake in Cardinal Health during the fourth quarter valued at approximately $141,963,000. GAMMA Investing LLC increased its holdings in shares of Cardinal Health by 17,589.1% in the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after buying an additional 959,486 shares in the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of Cardinal Health in the 4th quarter valued at $92,811,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Up 0.2%

NYSE:CAH traded up $0.27 during mid-day trading on Tuesday, hitting $164.26. 4,188,897 shares of the company's stock traded hands, compared to its average volume of 2,237,272. The firm has a market capitalization of $39.21 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.66. The firm has a 50 day moving average of $150.11 and a two-hundred day moving average of $134.48. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $166.32.

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

Cardinal Health Increases Dividend

The company 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 is an increase from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.24%. Cardinal Health's dividend payout ratio (DPR) is 31.51%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CAH shares. Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Bank of America boosted their target price on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Robert W. Baird raised 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. Citigroup reissued a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Finally, Mizuho increased their price target 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. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned 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 $157.43.

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.