Wealth Enhancement Advisory Services LLC boosted its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,213 shares of the company’s stock after acquiring an additional 458 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cardinal Health were worth $771,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Cardinal Health by 2.1% in the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock valued at $1,246,751,000 after acquiring an additional 457,777 shares during the last quarter. Invesco Ltd. boosted its stake in Cardinal Health by 9.0% in the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock valued at $350,748,000 after acquiring an additional 511,826 shares during the last quarter. Morgan Stanley boosted its stake in Cardinal Health by 3.6% in the fourth quarter. Morgan Stanley now owns 4,594,184 shares of the company’s stock valued at $353,155,000 after acquiring an additional 161,667 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Cardinal Health by 52.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,876,715 shares of the company’s stock valued at $298,003,000 after acquiring an additional 1,327,772 shares during the last quarter. Finally, Norges Bank bought a new position in Cardinal Health in the fourth quarter valued at approximately $220,230,000. Institutional investors own 85.40% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Mizuho raised their price objective on shares of Cardinal Health from $85.00 to $94.00 in a research note on Tuesday. Citigroup upped their price target on Cardinal Health from $88.00 to $90.00 in a research note on Monday, June 12th. Evercore ISI lifted their price objective on shares of Cardinal Health from $90.00 to $95.00 in a research note on Friday, June 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $88.00 to $90.00 in a research note on Monday, May 8th. Finally, Credit Suisse Group upped their price objective on shares of Cardinal Health from $90.00 to $100.00 in a research report on Monday, June 12th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Hold” and a consensus target price of $89.43.
Cardinal Health Price Performance
Cardinal Health (NYSE:CAH – Get Free Report) last announced its quarterly earnings data on Thursday, May 4th. The company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.26. The business had revenue of $50.50 billion for the quarter, compared to analyst estimates of $49.63 billion. Cardinal Health had a net margin of 0.23% and a negative return on equity of 81.55%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 earnings per share. On average, equities analysts expect that Cardinal Health, Inc. will post 5.71 EPS for the current year.
Cardinal Health Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Monday, July 3rd will be issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, June 30th. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is presently 114.94%.
Cardinal Health Profile
Cardinal Health, Inc operates as an integrated 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.
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