Trust Investment Advisors Purchases New Position in Cardinal Health, Inc. (NYSE:CAH)

Trust Investment Advisors purchased a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,105 shares of the company's stock, valued at approximately $290,000.

A number of other large investors have also recently made changes to their positions in the stock. Pinnacle Bancorp Inc. boosted its holdings in shares of Cardinal Health by 11.2% in the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock worth $106,000 after acquiring an additional 77 shares during the period. CSS LLC IL boosted its holdings in shares of Cardinal Health by 0.8% in the fourth quarter. CSS LLC IL now owns 11,190 shares of the company's stock worth $1,323,000 after acquiring an additional 90 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of Cardinal Health by 4.2% in the first quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock worth $309,000 after acquiring an additional 90 shares during the period. Smith Shellnut Wilson LLC ADV boosted its holdings in shares of Cardinal Health by 2.1% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock worth $606,000 after acquiring an additional 91 shares during the period. Finally, TIAA Trust National Association boosted its stake in Cardinal Health by 4.5% during the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock valued at $258,000 after buying an additional 94 shares during the period. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

CAH has been the subject of several research analyst reports. Bank of America lifted their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Mizuho lifted their price objective on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Citigroup reissued a "neutral" rating and set a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Robert W. Baird lifted their price objective on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of "Moderate Buy" and an average price target of $158.07.

Cardinal Health Price Performance

CAH stock traded up $0.56 during mid-day trading on Friday, hitting $160.02. 534,818 shares of the stock were exchanged, compared to its average volume of 2,226,975. The stock has a market capitalization of $38.19 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 1.60 and a beta of 0.68. The business has a fifty day moving average price of $158.45 and a 200 day moving average price of $139.91. Cardinal Health, Inc. has a 12 month low of $94.29 and a 12 month high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.15 by $0.20. The firm had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The company's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 earnings per share. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a $0.5107 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.28%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is currently 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.