Whittier Trust Co. of Nevada Inc. Raises Position in Cardinal Health, Inc. (NYSE:CAH)

Whittier Trust Co. of Nevada Inc. grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 349.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,835 shares of the company's stock after buying an additional 2,204 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Cardinal Health were worth $391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Cardinal Health by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock worth $691,145,000 after purchasing an additional 109,273 shares during the period. Invesco Ltd. raised its position in Cardinal Health by 4.6% in the 4th quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after purchasing an additional 140,368 shares during the period. Marshall Wace LLP raised its position in Cardinal Health by 154.6% in the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after purchasing an additional 1,913,892 shares during the period. Northern Trust Corp raised its position in Cardinal Health by 16.2% in the 4th 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cardinal Health by 4.3% in 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 purchasing an additional 94,768 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Down 0.0%

Shares of CAH traded down $0.01 during trading hours on Friday, reaching $159.45. 2,035,339 shares of the company traded hands, compared to its average volume of 2,236,166. The company's fifty day moving average price is $158.45 and its two-hundred day moving average price is $139.91. The company has a market capitalization of $38.06 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 1.58 and a beta of 0.68. 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 posted 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. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The business had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the previous year, the firm posted $2.08 earnings per share. Cardinal Health's quarterly revenue was up .0% on a year-over-year basis. On average, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.5107 per share. The ex-dividend date was Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.28%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is presently 31.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CAH shares. Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Evercore ISI reissued an "outperform" rating and issued a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Mizuho raised their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Bank of America raised their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, UBS Group raised their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Three equities research 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's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $158.07.

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.