Toronto Dominion Bank Grows Position in Cardinal Health, Inc. (NYSE:CAH)

Toronto Dominion Bank grew its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,697 shares of the company's stock after acquiring an additional 12,236 shares during the quarter. Toronto Dominion Bank owned about 0.05% of Cardinal Health worth $15,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CAH. Norges Bank purchased a new position in Cardinal Health in the 4th quarter valued at about $246,748,000. Marshall Wace LLP raised its position in shares of Cardinal Health by 154.6% in the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after buying an additional 1,913,892 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Cardinal Health during the fourth quarter valued at approximately $141,963,000. Junto Capital Management LP acquired a new stake in Cardinal Health during the fourth quarter worth approximately $92,811,000. Finally, 8 Knots Management LLC acquired a new stake in Cardinal Health during the fourth quarter worth approximately $62,476,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 0.3%

Cardinal Health stock opened at $153.78 on Tuesday. The firm has a fifty day moving average of $137.63 and a 200-day moving average of $128.19. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $154.78. The firm has a market capitalization of $36.70 billion, a P/E ratio of 28.69, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly 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. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. During the same period in the prior year, the company earned $2.08 EPS. The firm's revenue was up .0% on a year-over-year basis. On average, research analysts expect that Cardinal Health, Inc. will post 7.95 EPS 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. Investors of record on Tuesday, July 1st will be issued 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 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's dividend payout ratio (DPR) is presently 31.83%.

Analysts Set New Price Targets

Several brokerages have weighed in on CAH. Citigroup reiterated a "neutral" rating on shares of Cardinal Health in a report on Thursday, May 1st. UBS Group upped their target price on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Bank of America raised their price target on Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $146.43.

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.

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