Richard Bernstein Advisors LLC Reduces Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Richard Bernstein Advisors LLC decreased its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,406 shares of the company's stock after selling 1,547 shares during the period. Richard Bernstein Advisors LLC's holdings in Cardinal Health were worth $3,362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CAH. Norges Bank acquired a new position in Cardinal Health in the fourth quarter valued at $246,748,000. Marshall Wace LLP raised its holdings in shares of Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after purchasing an additional 1,913,892 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at about $141,963,000. GAMMA Investing LLC raised its holdings in shares of Cardinal Health by 17,589.1% during the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after purchasing an additional 959,486 shares during the period. Finally, Junto Capital Management LP acquired a new position in shares of Cardinal Health during the fourth quarter valued at about $92,811,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CAH shares. Evercore ISI reiterated an "outperform" rating and set a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Citigroup reiterated a "neutral" rating and set a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. UBS Group upped their price objective 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. Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $136.00 to $179.00 in a report on Tuesday, June 3rd. Finally, Mizuho boosted their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus price target of $157.43.

Cardinal Health Stock Down 1.9%

CAH stock traded down $3.20 during trading on Tuesday, reaching $164.43. The stock had a trading volume of 2,066,889 shares, compared to its average volume of 2,478,465. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $168.44. The company's 50 day moving average is $156.17 and its two-hundred day moving average is $137.79. The company has a market capitalization of $39.25 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.63 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same period in the prior year, the firm posted $2.08 EPS. The firm's quarterly revenue was up .0% compared to the same quarter last year. As a group, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business 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 dividend of $0.5107 per share. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's dividend payout ratio is currently 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.