Vest Financial LLC Lowers Holdings in Cardinal Health, Inc. (NYSE:CAH)

Vest Financial LLC lowered its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 13.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 439,375 shares of the company's stock after selling 66,676 shares during the period. Cardinal Health comprises approximately 0.9% of Vest Financial LLC's investment portfolio, making the stock its 24th biggest position. Vest Financial LLC owned approximately 0.18% of Cardinal Health worth $60,533,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Cardinal Health by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock valued at $691,145,000 after buying an additional 109,273 shares during the period. Invesco Ltd. lifted its holdings in Cardinal Health by 4.6% during the 4th quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after buying an additional 140,368 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Cardinal Health by 154.6% in the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after purchasing an additional 1,913,892 shares in the last quarter. Northern Trust Corp raised its stake in Cardinal Health by 16.2% during the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock worth $359,286,000 after acquiring an additional 422,755 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cardinal Health by 4.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock worth $274,599,000 after acquiring an additional 94,768 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Trading Up 0.4%

CAH stock traded up $0.56 during trading on Friday, hitting $154.68. The company had a trading volume of 959,422 shares, compared to its average volume of 2,216,881. The stock has a market cap of $36.92 billion, a PE ratio of 28.86, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $157.82. The business has a 50-day moving average of $143.17 and a 200-day moving average of $131.18.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Cardinal Health's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 EPS. Research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current 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 paid a $0.5107 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.32%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is currently 31.83%.

Wall Street Analysts Forecast Growth

CAH has been the topic of several analyst reports. Robert W. Baird lifted their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Morgan Stanley boosted their target price on shares of Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Bank of America raised their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday, April 11th. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $136.00 to $179.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $149.50.

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.