3,188 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by Q3 Asset Management

Q3 Asset Management purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,188 shares of the company's stock, valued at approximately $439,000.

Other institutional investors have also recently made changes to their positions in the company. Cyrus J. Lawrence LLC bought a new position in Cardinal Health during the fourth quarter valued at approximately $26,000. Bellwether Advisors LLC bought a new stake in shares of Cardinal Health during the 4th quarter valued at $32,000. Tompkins Financial Corp raised its position in shares of Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after purchasing an additional 128 shares during the period. Lee Danner & Bass Inc. bought a new stake in shares of Cardinal Health during the 4th quarter valued at $35,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Cardinal Health in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on CAH shares. Robert W. Baird lifted their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Citigroup restated a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. UBS Group boosted their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Evercore ISI restated an "outperform" rating and set a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Finally, Bank of America upped their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cardinal Health has a consensus rating of "Moderate Buy" and a consensus target price of $157.43.

Cardinal Health Trading Down 0.8%

NYSE:CAH traded down $1.30 during trading hours on Friday, reaching $160.87. 1,314,182 shares of the company were exchanged, compared to its average volume of 2,241,478. The stock's 50-day moving average is $157.67 and its 200-day moving average is $138.89. The firm has a market cap of $38.40 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 1.59 and a beta of 0.68. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $168.44.

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 net margin of 0.70% and a negative return on equity of 68.84%. The firm's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 earnings per share. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. Cardinal Health's dividend payout ratio is 31.83%.

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.