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

Principal Financial Group Inc. raised its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,817 shares of the company's stock after buying an additional 15,956 shares during the period. Principal Financial Group Inc. owned about 0.13% of Cardinal Health worth $43,510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CAH. Huntington National Bank boosted its holdings in Cardinal Health by 1.2% in the fourth quarter. Huntington National Bank now owns 10,920 shares of the company's stock valued at $1,292,000 after purchasing an additional 128 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in Cardinal Health by 17.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock valued at $429,000 after purchasing an additional 457 shares during the period. Golden State Wealth Management LLC boosted its holdings in Cardinal Health by 569.5% in the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock valued at $54,000 after purchasing an additional 336 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Cardinal Health by 25.8% in the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after purchasing an additional 2,694 shares during the period. Finally, Keybank National Association OH purchased a new position in Cardinal Health in the fourth quarter valued at $257,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Morgan Stanley set a $181.00 target price on Cardinal Health and gave the company an "overweight" rating in a report on Friday, June 13th. Citigroup reaffirmed a "neutral" rating and set a $170.00 price target (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. UBS Group lifted their price target on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $157.43.

Cardinal Health Price Performance

Shares of CAH traded down $3.20 during midday trading on Tuesday, reaching $164.43. 2,066,889 shares of the stock were exchanged, compared to its average volume of 2,244,219. The business's 50-day moving average price is $156.17 and its 200 day moving average price is $137.79. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $168.88. The company has a market capitalization of $39.25 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.63 and a beta of 0.68.

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, topping analysts' consensus estimates 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 revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the firm earned $2.08 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.24%. Cardinal Health's dividend payout ratio (DPR) is 31.83%.

Cardinal Health 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.