EP Wealth Advisors LLC Increases Position in Cardinal Health, Inc. (NYSE:CAH)

EP Wealth Advisors LLC boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,338 shares of the company’s stock after purchasing an additional 225 shares during the quarter. EP Wealth Advisors LLC’s holdings in Cardinal Health were worth $631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAH. Barclays PLC grew its holdings in Cardinal Health by 8.2% in the third quarter. Barclays PLC now owns 707,404 shares of the company’s stock worth $78,183,000 after purchasing an additional 53,851 shares during the period. Franklin Resources Inc. lifted its stake in shares of Cardinal Health by 6.6% in the third quarter. Franklin Resources Inc. now owns 151,185 shares of the company’s stock worth $16,918,000 after buying an additional 9,385 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Cardinal Health by 6.0% in the fourth quarter. Nordea Investment Management AB now owns 22,372 shares of the company’s stock worth $2,659,000 after buying an additional 1,259 shares in the last quarter. Graypoint LLC lifted its stake in shares of Cardinal Health by 76.8% in the fourth quarter. Graypoint LLC now owns 4,208 shares of the company’s stock worth $498,000 after buying an additional 1,828 shares in the last quarter. Finally, Czech National Bank lifted its stake in shares of Cardinal Health by 5.6% in 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 in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the topic of several analyst reports. Mizuho upped their target price on shares of 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 upped their target price on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Bank of America upped their target price on shares of Cardinal Health from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. UBS Group upped their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Robert W. Baird increased their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $146.43.

Cardinal Health Trading Up 0.7%

Shares of CAH stock opened at $148.36 on Monday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $154.07. The stock has a market cap of $35.41 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.49 and a beta of 0.66. The company 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 announced its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The business had revenue of $54.88 billion during the quarter, compared to analysts’ expectations of $55.33 billion. During the same period in the prior year, the company earned $2.08 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. As a group, equities analysts forecast 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 will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health’s dividend payout ratio is currently 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.