Sagespring Wealth Partners LLC Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Sagespring Wealth Partners LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,688 shares of the company's stock, valued at approximately $233,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CAH. Rothschild Investment LLC raised its holdings in shares of Cardinal Health by 10.1% in the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company's stock worth $101,000 after buying an additional 79 shares during the period. CSS LLC IL increased its stake in Cardinal Health by 0.8% in the fourth quarter. CSS LLC IL now owns 11,190 shares of the company's stock worth $1,323,000 after purchasing an additional 90 shares during the period. Private Trust Co. NA lifted its position in shares of Cardinal Health by 11.0% during the fourth quarter. Private Trust Co. NA now owns 930 shares of the company's stock worth $110,000 after purchasing an additional 92 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Cardinal Health by 2.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company's stock worth $411,000 after purchasing an additional 93 shares during the last quarter. Finally, TIAA Trust National Association boosted its stake in shares of Cardinal Health by 4.5% during the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock valued at $258,000 after purchasing an additional 94 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Up 0.2%

Shares of NYSE CAH traded up $0.27 during mid-day trading on Tuesday, reaching $164.26. 4,188,897 shares of the company were exchanged, compared to its average volume of 2,237,272. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $166.32. The firm has a 50-day moving average of $150.11 and a 200 day moving average of $134.48. The stock has a market cap of $39.21 billion, a price-to-earnings ratio of 25.63, a P/E/G ratio of 1.82 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $55.33 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. The company's quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is currently 31.51%.

Wall Street Analyst Weigh In

CAH has been the topic of several recent analyst reports. UBS Group raised their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Morgan Stanley set a $181.00 price target on shares of Cardinal Health and gave the company an "overweight" rating in a research note on Friday, June 13th. Evercore ISI reissued an "outperform" rating and issued a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Finally, Robert W. Baird raised their price objective on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.43.

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.