Pure Financial Advisors LLC Acquires Shares of 1,784 Cardinal Health, Inc. (NYSE:CAH)

Pure Financial Advisors LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,784 shares of the company's stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cyrus J. Lawrence LLC bought a new position in shares of Cardinal Health during the fourth quarter worth $26,000. Promus Capital LLC bought a new position in shares of Cardinal Health during the fourth quarter worth $30,000. Bellwether Advisors LLC bought a new position in shares of Cardinal Health during the fourth quarter worth $32,000. Tompkins Financial Corp boosted its position in shares of Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after purchasing an additional 128 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health during the fourth quarter worth $35,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Trading Up 1.0%

Shares of CAH stock opened at $167.18 on Friday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $168.17. The firm's fifty day moving average price is $152.57 and its two-hundred day moving average price is $135.52. The firm has a market capitalization of $39.90 billion, a P/E ratio of 26.08, a PEG ratio of 1.85 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly 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. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The firm had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. During the same period in the previous year, the business earned $2.08 EPS. The company's revenue was up .0% compared to the same quarter last year. As a group, equities 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 declared 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 positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's payout ratio is presently 31.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. UBS Group lifted their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. 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 report on Friday, May 2nd. Evercore ISI reissued an "outperform" rating and set a $180.00 price target (up from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Finally, Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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