Cardinal Health, Inc. (NYSE:CAH) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 661,367 shares of the company's stock after acquiring an additional 35,312 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of Cardinal Health worth $91,116,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CAH. Cyrus J. Lawrence LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth about $26,000. Promus Capital LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth about $30,000. Bellwether Advisors LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $32,000. Tompkins Financial Corp boosted its position in shares of Cardinal Health by 106.7% in 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. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $35,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CAH shares. Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and upped their target price for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $136.00 to $179.00 in a research report on Tuesday. Robert W. Baird upped their target price on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Mizuho increased their price objective on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Finally, Citigroup reaffirmed a "neutral" rating on shares of Cardinal Health in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cardinal Health has an average rating of "Moderate Buy" and a consensus price target of $149.50.

Cardinal Health Stock Down 0.1%

Shares of NYSE:CAH traded down $0.22 during midday trading on Thursday, reaching $153.85. The company's stock had a trading volume of 2,257,272 shares, compared to its average volume of 2,219,923. The firm has a market cap of $36.72 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $157.82. The business has a 50 day moving average price of $143.17 and a 200 day moving average price of $131.18.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The firm's revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts anticipate 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. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Tuesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is currently 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.