Transform Wealth LLC Purchases 7,591 Shares of Cardinal Health, Inc. (NYSE:CAH)

Transform Wealth LLC increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 75.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,715 shares of the company's stock after acquiring an additional 7,591 shares during the quarter. Transform Wealth LLC's holdings in Cardinal Health were worth $2,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Cardinal Health during the 4th quarter worth $246,748,000. Marshall Wace LLP increased its holdings in Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after buying an additional 1,913,892 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Cardinal Health in the fourth quarter worth about $141,963,000. GAMMA Investing LLC raised its position in Cardinal Health by 17,589.1% in the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock worth $132,940,000 after acquiring an additional 959,486 shares during the period. Finally, Junto Capital Management LP purchased a new position in Cardinal Health in the fourth quarter valued at about $92,811,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup restated a "neutral" rating on shares of Cardinal Health in a research note on Thursday, May 1st. Morgan Stanley increased their price objective on Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a report on Monday, May 5th. UBS Group boosted 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. Mizuho upped their price target on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Finally, Robert W. Baird lifted 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 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $150.57.

Cardinal Health Stock Performance

Cardinal Health stock traded up $6.54 during midday trading on Thursday, reaching $160.07. 1,320,419 shares of the stock were exchanged, compared to its average volume of 2,217,813. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $160.27. The firm has a market cap of $38.21 billion, a PE ratio of 29.86, a PEG ratio of 1.49 and a beta of 0.66. The company's fifty day moving average is $144.62 and its 200-day moving average is $132.08.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.20. The firm had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The company's revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 EPS. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share 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. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.28%. Cardinal Health's payout ratio is presently 31.83%.

About Cardinal Health

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.