Westover Capital Advisors LLC Purchases 665 Shares of Cardinal Health, Inc. (NYSE:CAH)

Westover Capital Advisors LLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 37.8% in the first quarter, Holdings Channel.com reports. The fund owned 2,425 shares of the company’s stock after acquiring an additional 665 shares during the quarter. Westover Capital Advisors LLC’s holdings in Cardinal Health were worth $334,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Cardinal Health by 5.3% during the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company’s stock valued at $43,510,000 after purchasing an additional 15,956 shares during the last quarter. Huntington National Bank lifted its position in Cardinal Health by 1.2% during the fourth quarter. Huntington National Bank now owns 10,920 shares of the company’s stock valued at $1,292,000 after purchasing an additional 128 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in Cardinal Health by 17.2% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company’s stock valued at $429,000 after purchasing an additional 457 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Cardinal Health by 25.8% during the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company’s stock valued at $1,811,000 after purchasing an additional 2,694 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position in Cardinal Health by 569.5% during the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company’s stock valued at $54,000 after purchasing an additional 336 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Mizuho lifted their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. Wells Fargo & Company upgraded shares of Cardinal Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. UBS Group boosted their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley boosted their price objective on shares of Cardinal Health from $181.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, Robert W. Baird boosted their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.07.

Cardinal Health Stock Down 0.7%

Shares of NYSE CAH opened at $157.10 on Friday. Cardinal Health, Inc. has a 52 week low of $96.05 and a 52 week high of $168.44. The firm’s fifty day moving average is $159.42 and its 200 day moving average is $141.52. The company has a market cap of $37.50 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.57 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. The business 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 0.70% and a negative return on equity of 68.84%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 EPS. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a $0.5107 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. 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 1.30%. Cardinal Health’s dividend payout ratio is currently 31.83%.

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.