Morningstar Investment Management LLC Acquires Shares of 2,248 Cardinal Health, Inc. (NYSE:CAH)

Morningstar Investment Management LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, Holdings Channel.com reports. The firm bought 2,248 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new position in Cardinal Health during the fourth quarter worth about $209,000. Mather Group LLC. boosted its position in Cardinal Health by 2.5% during the fourth quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock worth $673,000 after purchasing an additional 164 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Cardinal Health by 86.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock valued at $6,998,000 after purchasing an additional 32,250 shares during the last quarter. Nordea Investment Management AB grew its stake in Cardinal Health by 50.5% in the 4th quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after acquiring an additional 61,933 shares during the last quarter. Finally, Vest Financial LLC increased its stake in shares of Cardinal Health by 15.9% during the 4th quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after purchasing an additional 38,769 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH traded down $0.36 on Wednesday, reaching $97.96. The company’s stock had a trading volume of 1,373,024 shares, compared to its average volume of 2,204,313. The stock has a market cap of $23.86 billion, a PE ratio of 43.54, a PEG ratio of 1.13 and a beta of 0.64. Cardinal Health, Inc. has a twelve month low of $83.07 and a twelve month high of $116.04. The firm’s 50 day moving average is $102.77 and its two-hundred day moving average is $105.18.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data 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. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the previous year, the company earned $1.74 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Monday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is 88.89%.

Analysts Set New Price Targets

CAH has been the subject of a number of analyst reports. Robert W. Baird cut their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Argus reduced their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 28th. Evercore ISI raised their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Finally, Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.57.

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.