Stack Financial Management Inc Sells 1,982 Shares of Cardinal Health, Inc. (NYSE:CAH)

Stack Financial Management Inc decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 1.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,234 shares of the company's stock after selling 1,982 shares during the period. Stack Financial Management Inc's holdings in Cardinal Health were worth $14,636,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Cardinal Health by 5.3% during the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock valued at $43,510,000 after buying an additional 15,956 shares during the period. Huntington National Bank boosted its holdings in shares of Cardinal Health by 1.2% during the fourth quarter. Huntington National Bank now owns 10,920 shares of the company's stock worth $1,292,000 after purchasing an additional 128 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in shares of Cardinal Health by 17.2% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock worth $429,000 after purchasing an additional 457 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Cardinal Health by 25.8% during the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock worth $1,811,000 after purchasing an additional 2,694 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Cardinal Health by 569.5% during the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after purchasing an additional 336 shares during the period. Institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

CAH has been the subject of a number of analyst reports. Robert W. Baird increased their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. UBS Group increased their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Mizuho increased their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Finally, Morgan Stanley set a $181.00 price target on shares of Cardinal Health and gave the stock an "overweight" rating in a research note on Friday, June 13th. 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, Cardinal Health currently has a consensus rating of "Moderate Buy" and an average price target of $157.43.

Cardinal Health Stock Down 0.4%

Shares of NYSE CAH traded down $0.63 on Tuesday, reaching $161.06. 1,922,877 shares of the company's stock traded hands, compared to its average volume of 2,236,459. Cardinal Health, Inc. has a 12 month low of $93.99 and a 12 month high of $168.44. The business's 50 day simple moving average is $157.67 and its two-hundred day simple moving average is $139.03. The company has a market cap of $38.44 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last announced 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 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 quarter last year, the firm earned $2.08 earnings per share. The business's revenue for the quarter was up .0% on a year-over-year basis. Analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced 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 is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.27%. Cardinal Health's dividend payout ratio (DPR) 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.