Lazard Asset Management LLC Raises Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Lazard Asset Management LLC boosted its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 19.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 252,651 shares of the company's stock after acquiring an additional 40,473 shares during the period. Lazard Asset Management LLC owned 0.10% of Cardinal Health worth $29,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cardinal Health by 35.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company's stock valued at $3,871,000 after acquiring an additional 8,471 shares during the last quarter. CHURCHILL MANAGEMENT Corp boosted its holdings in shares of Cardinal Health by 1.5% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company's stock worth $28,435,000 after acquiring an additional 3,576 shares during the period. Consolidated Planning Corp boosted its holdings in shares of Cardinal Health by 40.0% in the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company's stock worth $1,056,000 after acquiring an additional 2,552 shares during the period. Flputnam Investment Management Co. boosted its stake in Cardinal Health by 1.8% during the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company's stock valued at $21,358,000 after buying an additional 3,148 shares during the period. Finally, Patton Albertson Miller Group LLC bought a new stake in Cardinal Health during the fourth quarter valued at $258,000. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of NYSE CAH traded up $2.28 during midday trading on Friday, hitting $154.23. 2,804,902 shares of the stock traded hands, compared to its average volume of 2,229,561. The firm has a 50-day moving average of $136.49 and a two-hundred day moving average of $127.35. The firm has a market capitalization of $36.81 billion, a P/E ratio of 28.77, 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 $154.69.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. During the same period in the prior year, the firm earned $2.08 EPS. The company's revenue was up .0% compared to the same quarter last year. Equities analysts forecast 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. This represents a $2.04 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is presently 31.83%.

Analyst Ratings Changes

Several brokerages have issued reports on CAH. Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and lifted their price target for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Morgan Stanley boosted their price target on Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a report on Monday, May 5th. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Bank of America upped their target price on Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Mizuho upped their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus price target of $146.43.

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.