Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 315,817 shares of the company's stock after buying an additional 15,956 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Cardinal Health worth $43,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Cardinal Health in the fourth quarter valued at approximately $246,748,000. Marshall Wace LLP lifted its holdings in Cardinal Health by 154.6% in the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after acquiring an additional 1,913,892 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in Cardinal Health in the fourth quarter valued at approximately $141,963,000. GAMMA Investing LLC lifted its holdings in 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 acquiring an additional 959,486 shares during the period. Finally, Junto Capital Management LP acquired a new position in Cardinal Health in the fourth quarter valued at approximately $92,811,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Trading Down 0.1%

NYSE:CAH traded down $0.13 during trading hours on Wednesday, hitting $164.32. The company had a trading volume of 1,492,796 shares, compared to its average volume of 2,242,926. The company has a 50-day moving average of $157.12 and a 200 day moving average of $138.16. The company has a market cap of $39.22 billion, a P/E ratio of 25.63, a P/E/G ratio of 1.63 and a beta of 0.68. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations 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 quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm 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 dividend of $0.5107 per share. The ex-dividend date is Tuesday, July 1st. This is a boost 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 1.24%. Cardinal Health's dividend payout ratio is currently 31.83%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAH. Citigroup reissued a "neutral" rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 target price (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. UBS Group upped their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Robert W. Baird upped their target price on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.