Integral Health Asset Management LLC Purchases Shares of 250,000 Cardinal Health, Inc. (NYSE:CAH)

Integral Health Asset Management LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 250,000 shares of the company’s stock, valued at approximately $29,568,000. Cardinal Health accounts for 2.5% of Integral Health Asset Management LLC’s holdings, making the stock its 7th biggest holding.

A number of other large investors have also made changes to their positions in the company. Iron Triangle Partners LP bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $21,998,000. Jefferies Financial Group Inc. grew its stake in shares of Cardinal Health by 165.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 216,047 shares of the company’s stock valued at $25,552,000 after acquiring an additional 134,641 shares during the period. Junto Capital Management LP bought a new position in shares of Cardinal Health during the 4th quarter valued at approximately $92,811,000. Focus Partners Wealth grew its stake in shares of Cardinal Health by 20.3% during the 4th quarter. Focus Partners Wealth now owns 18,197 shares of the company’s stock valued at $2,152,000 after acquiring an additional 3,076 shares during the period. Finally, Ethic Inc. grew its stake in shares of Cardinal Health by 20.7% during the 4th quarter. Ethic Inc. now owns 11,835 shares of the company’s stock valued at $1,400,000 after acquiring an additional 2,031 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

CAH stock opened at $148.36 on Monday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $154.07. The company has a market capitalization of $35.41 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.49 and a beta of 0.66. The business has a 50 day simple moving average of $134.65 and a two-hundred day simple moving average of $126.50.

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 the consensus estimate of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.08 EPS. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Tuesday, July 1st. Cardinal Health’s dividend payout ratio is currently 31.83%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CAH shares. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 5th. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Mizuho boosted their price objective on Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Morgan Stanley boosted their price objective on Cardinal Health from $142.00 to $166.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $146.43.

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.