NorthRock Partners LLC Boosts Stake in Cardinal Health, Inc. (NYSE:CAH)

NorthRock Partners LLC grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 730.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 40,347 shares of the company’s stock after acquiring an additional 35,491 shares during the period. NorthRock Partners LLC’s holdings in Cardinal Health were worth $4,772,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CAH. Barclays PLC increased its position in Cardinal Health by 8.2% during the 3rd quarter. Barclays PLC now owns 707,404 shares of the company’s stock worth $78,183,000 after purchasing an additional 53,851 shares in the last quarter. Czech National Bank grew its stake in Cardinal Health by 5.6% during the fourth quarter. Czech National Bank now owns 52,473 shares of the company’s stock worth $6,206,000 after buying an additional 2,800 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in shares of Cardinal Health in the fourth quarter worth $209,000. Brookstone Capital Management raised its stake in shares of Cardinal Health by 4.4% in the 4th quarter. Brookstone Capital Management now owns 9,125 shares of the company’s stock valued at $1,079,000 after acquiring an additional 381 shares during the period. Finally, Wedmont Private Capital raised its stake in shares of Cardinal Health by 3.5% in the 4th quarter. Wedmont Private Capital now owns 3,828 shares of the company’s stock valued at $465,000 after acquiring an additional 131 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Robert W. Baird upped their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Mizuho upped their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Morgan Stanley increased their target price on Cardinal Health from $142.00 to $166.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Wells Fargo & Company boosted their price target on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Finally, UBS Group increased their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

Cardinal Health Trading Down 0.2%

Cardinal Health stock opened at $148.28 on Wednesday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $154.07. The stock has a market cap of $35.39 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The stock has a 50 day moving average of $135.50 and a 200-day moving average of $126.92.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. The firm had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 EPS. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared 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 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 1.38%. Cardinal Health’s dividend payout ratio (DPR) 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.