Lake Street Advisors Group LLC Acquires Shares of 2,948 Cardinal Health, Inc. (NYSE:CAH)

Lake Street Advisors Group LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH) in the 1st quarter, Holdings Channel.com reports. The firm bought 2,948 shares of the company’s stock, valued at approximately $331,000.

A number of other large investors have also modified their holdings of the stock. Acadian Asset Management LLC grew its holdings in Cardinal Health by 19.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after purchasing an additional 598,002 shares in the last quarter. Norges Bank purchased a new stake in shares of Cardinal Health during the fourth quarter worth about $258,499,000. California Public Employees Retirement System lifted 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 worth $152,816,000 after acquiring an additional 823,520 shares in the last quarter. Brandes Investment Partners LP lifted its stake in shares of Cardinal Health by 2.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,221,191 shares of the company’s stock worth $123,096,000 after acquiring an additional 28,042 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Cardinal Health by 25.2% in the first quarter. Russell Investments Group Ltd. now owns 814,894 shares of the company’s stock valued at $91,349,000 after purchasing an additional 163,896 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CAH. Evercore ISI dropped their price objective on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company cut their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Robert W. Baird raised their price objective on shares of Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Citigroup decreased their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.67.

Cardinal Health Stock Up 0.9 %

CAH stock traded up $0.87 during midday trading on Wednesday, reaching $96.71. The company had a trading volume of 1,677,336 shares, compared to its average volume of 2,166,768. The firm has a market capitalization of $23.56 billion, a PE ratio of 42.98, a P/E/G ratio of 1.05 and a beta of 0.61. The stock has a 50 day moving average price of $98.07 and a 200 day moving average price of $103.69. Cardinal Health, Inc. has a fifty-two week low of $85.11 and a fifty-two week high of $116.04.

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

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.5056 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $2.02 annualized dividend and a dividend yield of 2.09%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is currently 89.78%.

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.