Capital Investment Advisors LLC Sells 51,477 Shares of Cardinal Health, Inc. (NYSE:CAH)

Capital Investment Advisors LLC reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 42.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,069 shares of the company’s stock after selling 51,477 shares during the quarter. Capital Investment Advisors LLC’s holdings in Cardinal Health were worth $9,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CAH. Rothschild Investment LLC increased its holdings in Cardinal Health by 10.1% in the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock worth $101,000 after buying an additional 79 shares in the last quarter. CSS LLC IL raised its position in Cardinal Health by 0.8% in the 4th quarter. CSS LLC IL now owns 11,190 shares of the company’s stock worth $1,323,000 after buying an additional 90 shares during the last quarter. Private Trust Co. NA lifted its stake in Cardinal Health by 11.0% during the 4th quarter. Private Trust Co. NA now owns 930 shares of the company’s stock valued at $110,000 after acquiring an additional 92 shares during the period. Checchi Capital Advisers LLC boosted its holdings in shares of Cardinal Health by 2.7% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock valued at $411,000 after acquiring an additional 93 shares during the last quarter. Finally, TIAA Trust National Association grew its stake in shares of Cardinal Health by 4.5% in the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock worth $258,000 after acquiring an additional 94 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAH has been the topic of several research reports. Bank of America raised their target price on shares of Cardinal Health from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Mizuho raised their price target on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Morgan Stanley lifted their price objective on Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. UBS Group increased their target price on Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company raised Cardinal Health from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Three 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $149.50.

Cardinal Health Stock Up 0.4%

CAH stock opened at $154.68 on Friday. The business’s 50-day moving average price is $143.52 and its 200-day moving average price is $131.51. The stock has a market cap of $36.92 billion, a P/E ratio of 28.86, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $157.82.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.32%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. Cardinal Health’s payout ratio is presently 31.83%.

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.