Richard Bernstein Advisors LLC Has $3.36 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Richard Bernstein Advisors LLC cut its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,406 shares of the company's stock after selling 1,547 shares during the quarter. Richard Bernstein Advisors LLC's holdings in Cardinal Health were worth $3,362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CAH. Raleigh Capital Management Inc. grew its position in shares of Cardinal Health by 121.8% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,029 shares of the company's stock valued at $142,000 after purchasing an additional 565 shares during the period. TD Private Client Wealth LLC grew its position in shares of Cardinal Health by 4.3% in the 1st quarter. TD Private Client Wealth LLC now owns 15,967 shares of the company's stock valued at $2,200,000 after purchasing an additional 657 shares during the period. Capital Advisors Inc. OK acquired a new position in shares of Cardinal Health in the 1st quarter valued at approximately $207,000. Envestnet Asset Management Inc. grew its position in shares of Cardinal Health by 15.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 695,949 shares of the company's stock valued at $95,881,000 after purchasing an additional 95,127 shares during the period. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Cardinal Health during the 1st quarter worth approximately $203,000. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CAH. Mizuho upped their price target on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Robert W. Baird upped their price target on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Citigroup reaffirmed a "neutral" rating and set a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. UBS Group upped their price target on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Bank of America upped their price target on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Three investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $157.43.

Cardinal Health Stock Down 1.4%

Shares of NYSE CAH traded down $2.34 during trading hours on Thursday, hitting $161.92. The company had a trading volume of 1,189,555 shares, compared to its average volume of 2,238,954. The stock has a market capitalization of $38.65 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 1.63 and a beta of 0.68. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $168.44. The firm's 50 day moving average is $157.12 and its 200-day moving average is $138.16.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly 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 68.84% and a net margin of 0.70%. The business had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. During the same quarter in the prior year, the business earned $2.08 EPS. The firm's revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current 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 issued a dividend of $0.5107 per share. This is an increase 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 yield of 1.26%. Cardinal Health's dividend payout ratio (DPR) 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.