Summit Global Investments Decreases Stake in Cardinal Health, Inc. (NYSE:CAH)

Summit Global Investments reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 27.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,741 shares of the company's stock after selling 22,367 shares during the period. Cardinal Health comprises 0.6% of Summit Global Investments' investment portfolio, making the stock its 29th largest holding. Summit Global Investments' holdings in Cardinal Health were worth $8,231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC lifted its holdings in Cardinal Health by 10.1% during the 4th 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 raised its holdings in Cardinal Health by 0.8% during the 4th 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 last quarter. Private Trust Co. NA lifted its position in shares of Cardinal Health by 11.0% in the 4th 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 period. Checchi Capital Advisers LLC boosted its stake in shares of Cardinal Health by 2.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company's stock valued at $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% in the 4th 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 last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Argus set a $148.00 target price on shares of Cardinal Health in a report on Tuesday, February 4th. JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Mizuho lifted their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Finally, Citigroup reissued a "neutral" rating on shares of Cardinal Health in a research note on Thursday, May 1st. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.43.

Cardinal Health Stock Up 0.3%

CAH stock traded up $0.47 during midday trading on Friday, reaching $154.46. 2,759,499 shares of the company's stock traded hands, compared to its average volume of 2,221,653. The firm's fifty day moving average price is $141.70 and its 200-day moving average price is $130.30. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $156.44. The company has a market cap of $36.87 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. The company had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm's revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 EPS. Analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current 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 issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.32%. 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 (DPR) 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.