101,609 Shares in Cardinal Health, Inc. (NYSE:CAH) Acquired by Meridiem Capital Partners LP

Meridiem Capital Partners LP acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 101,609 shares of the company's stock, valued at approximately $12,017,000.

A number of other hedge funds have also made changes to their positions in CAH. Cyrus J. Lawrence LLC purchased a new position in Cardinal Health in the fourth quarter valued at approximately $26,000. Promus Capital LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at $30,000. Bellwether Advisors LLC acquired a new stake in Cardinal Health during the 4th quarter worth $32,000. Lee Danner & Bass Inc. purchased a new stake in Cardinal Health in the fourth quarter valued at $35,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Cardinal Health in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

CAH traded up $2.28 during trading on Friday, reaching $154.23. 2,804,902 shares of the stock were exchanged, compared to its average volume of 2,229,561. The company has a market capitalization of $36.81 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $154.69. The business's 50 day moving average price is $136.49 and its two-hundred day moving average price is $127.35.

Cardinal Health (NYSE:CAH - Get Free Report) last released 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 0.59% and a negative return on equity of 59.57%. The business had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. During the same period in the previous year, the firm earned $2.08 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts anticipate 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 will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.32%. Cardinal Health's dividend payout ratio (DPR) is 31.83%.

Analyst Ratings Changes

Several analysts have recently weighed in on CAH shares. Mizuho boosted their target price on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Bank of America increased their price objective on Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday, April 11th. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. StockNews.com upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Citigroup restated a "neutral" rating on shares of Cardinal Health in a research note on Thursday, May 1st. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of "Moderate Buy" and an average 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.