2,078 Shares in Cardinal Health, Inc. (NYSE:CAH) Bought by Insight Advisors LLC PA

Insight Advisors LLC PA acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the first quarter, Holdings Channel reports. The firm acquired 2,078 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of Cardinal Health by 17.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock valued at $264,052,000 after purchasing an additional 389,431 shares during the period. Norges Bank acquired a new stake in shares of Cardinal Health in the fourth quarter valued at $258,499,000. California Public Employees Retirement System grew its stake in shares of Cardinal Health by 118.9% in the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after buying an additional 823,520 shares in the last quarter. Brandes Investment Partners LP grew its stake in Cardinal Health by 2.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,221,191 shares of the company’s stock worth $123,096,000 after purchasing an additional 28,042 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Cardinal Health by 64.9% during the 3rd quarter. Deutsche Bank AG now owns 1,027,670 shares of the company’s stock worth $89,222,000 after purchasing an additional 404,609 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 0.4 %

Cardinal Health stock traded down $0.36 during mid-day trading on Friday, hitting $94.10. The company’s stock had a trading volume of 1,891,046 shares, compared to its average volume of 2,099,865. The stock has a market capitalization of $22.92 billion, a P/E ratio of 41.84, a P/E/G ratio of 1.04 and a beta of 0.61. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The stock’s fifty day moving average price is $98.52 and its two-hundred day moving average price is $104.07.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The company had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.74 EPS. Equities analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 2.15%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. Cardinal Health’s dividend payout ratio is 89.78%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Robert W. Baird lifted their price target on Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday. Evercore ISI dropped their target price on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a research report on Tuesday. Wells Fargo & Company dropped their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Argus lowered their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Finally, StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

About Cardinal Health

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.