Rafferty Asset Management LLC Buys 2,711 Shares of Cardinal Health, Inc. (NYSE:CAH)

Rafferty Asset Management LLC increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,444 shares of the company's stock after purchasing an additional 2,711 shares during the period. Rafferty Asset Management LLC's holdings in Cardinal Health were worth $3,246,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cyrus J. Lawrence LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at about $26,000. Promus Capital LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at about $30,000. Bellwether Advisors LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health during the 4th quarter valued at about $35,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Cardinal Health in the 4th quarter valued at approximately $36,000. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CAH shares. Morgan Stanley boosted their target price on Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and boosted their target price for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their target price on Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Finally, UBS Group boosted their target price on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $146.43.

Cardinal Health Stock Up 0.2%

Shares of CAH stock traded up $0.24 during trading on Friday, reaching $152.73. 1,856,640 shares of the company's stock were exchanged, compared to its average volume of 2,227,745. The stock has a market capitalization of $36.45 billion, a PE ratio of 28.49, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $156.44. The firm's fifty day moving average price is $139.58 and its 200-day moving average price is $129.09.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results 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 business had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm's revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 EPS. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.34%. This is a positive change 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 currently 31.83%.

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.