Wealth Enhancement Advisory Services LLC Has $4.93 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Wealth Enhancement Advisory Services LLC raised its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 15.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,790 shares of the company's stock after purchasing an additional 4,693 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Cardinal Health were worth $4,931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cyrus J. Lawrence LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $26,000. Tompkins Financial Corp raised its stake in shares of Cardinal Health by 106.7% in the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after purchasing an additional 128 shares during the period. Promus Capital LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $30,000. Bellwether Advisors LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $32,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Performance

Cardinal Health stock opened at $163.77 on Thursday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $166.32. The stock has a market capitalization of $39.09 billion, a P/E ratio of 25.55, a PEG ratio of 1.83 and a beta of 0.66. The stock has a 50-day simple moving average of $151.30 and a 200 day simple moving average of $134.89.

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

Cardinal Health Increases Dividend

The business also recently disclosed 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 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 1.25%. Cardinal Health's dividend payout ratio (DPR) is 31.51%.

Analyst Upgrades and Downgrades

CAH has been the topic of several recent research reports. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Mizuho raised their price objective on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Evercore ISI restated an "outperform" rating and issued a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Bank of America raised their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Morgan Stanley set a $181.00 price objective on Cardinal Health and gave the company an "overweight" rating in a report on Friday, June 13th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cardinal Health has an average rating of "Moderate Buy" and a consensus target price of $157.43.

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.

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.