Washington Capital Management Inc. Purchases Shares of 4,350 Cardinal Health, Inc. (NYSE:CAH)

Washington Capital Management Inc. purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 4,350 shares of the company's stock, valued at approximately $599,000.

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

Cardinal Health Stock Up 0.4%

Cardinal Health stock opened at $154.68 on Friday. The company has a market capitalization of $36.92 billion, a PE ratio of 28.86, a P/E/G ratio of 1.49 and a beta of 0.66. The firm has a fifty day simple moving average of $143.52 and a two-hundred day simple moving average of $131.51. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $157.82.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to the consensus estimate 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 for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared 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 is an increase from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.32%. Cardinal Health's payout ratio is currently 31.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup reaffirmed a "neutral" rating on shares of Cardinal Health in a research note on Thursday, May 1st. Morgan Stanley raised their price objective on shares of Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Mizuho upped their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. UBS Group increased 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. Finally, Bank of America lifted 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. Three research 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's stock. According to data from MarketBeat, Cardinal Health currently has an average rating of "Moderate Buy" and an average price target of $149.50.

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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