1,688 Shares in Cardinal Health, Inc. (NYSE:CAH) Bought by Sagespring Wealth Partners LLC

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

Other large investors also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC purchased a new stake in Cardinal Health in the 4th quarter valued at about $26,000. Tompkins Financial Corp boosted its position in 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 buying an additional 128 shares during the period. Promus Capital LLC purchased a new stake in Cardinal Health in the 4th quarter valued at about $30,000. Bellwether Advisors LLC purchased a new stake in Cardinal Health in the 4th quarter valued at about $32,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Cardinal Health in the 4th quarter valued at about $35,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Cardinal Health stock traded down $2.32 during mid-day trading on Friday, reaching $163.08. 4,642,719 shares of the company traded hands, compared to its average volume of 2,226,594. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $166.32. The company has a market capitalization of $38.92 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 1.82 and a beta of 0.66. The firm's fifty day moving average is $149.53 and its two-hundred day moving average is $134.12.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the prior year, the business posted $2.08 EPS. Cardinal Health's revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities research 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 1.25%. 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 dividend payout ratio (DPR) is 31.51%.

Analyst Upgrades and Downgrades

CAH has been the subject of several research reports. Bank of America boosted their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Morgan Stanley set a $181.00 price target on shares of Cardinal Health and gave the stock an "overweight" rating in a research report on Friday, June 13th. Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Citigroup reissued a "neutral" rating and set a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Finally, UBS Group increased their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Three 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $157.43.

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.