Wedmont Private Capital Has $375,000 Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Wedmont Private Capital raised its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,467 shares of the company’s stock after purchasing an additional 194 shares during the period. Wedmont Private Capital’s holdings in Cardinal Health were worth $375,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in Cardinal Health by 82.2% during the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after purchasing an additional 1,862,291 shares in the last quarter. Northern Trust Corp grew its stake in shares of Cardinal Health by 0.9% during the third quarter. Northern Trust Corp now owns 3,340,547 shares of the company’s stock worth $290,026,000 after buying an additional 28,412 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Cardinal Health by 17.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock worth $264,052,000 after buying an additional 389,431 shares during the last quarter. Norges Bank bought a new stake in shares of Cardinal Health during the fourth quarter worth $258,499,000. Finally, AQR Capital Management LLC grew its stake in shares of Cardinal Health by 0.8% during the third quarter. AQR Capital Management LLC now owns 2,496,531 shares of the company’s stock worth $216,749,000 after buying an additional 19,287 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Up 0.2 %

Shares of CAH opened at $104.63 on Friday. The stock has a market capitalization of $25.48 billion, a P/E ratio of 46.50, a price-to-earnings-growth ratio of 1.18 and a beta of 0.64. The firm’s fifty day simple moving average is $100.44 and its two-hundred day simple moving average is $104.71. Cardinal Health, Inc. has a 12 month low of $85.11 and a 12 month high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. During the same quarter in the prior year, the business earned $1.74 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. The ex-dividend date is Monday, July 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.93%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is currently 88.89%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CAH. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 28th. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Robert W. Baird reduced their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Evercore ISI boosted their price objective on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Finally, Argus reduced their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $109.67.

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.