Cardinal Health, Inc. (NYSE:CAH) Shares Bought by NorthRock Partners LLC

NorthRock Partners LLC lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 730.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,347 shares of the company’s stock after purchasing an additional 35,491 shares during the quarter. NorthRock Partners LLC’s holdings in Cardinal Health were worth $4,772,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. OMERS ADMINISTRATION Corp grew its position in Cardinal Health by 20.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 10,310 shares of the company’s stock worth $1,219,000 after buying an additional 1,729 shares during the period. Measured Risk Portfolios Inc. purchased a new stake in shares of Cardinal Health during the 4th quarter worth approximately $47,000. Meridiem Capital Partners LP acquired a new stake in shares of Cardinal Health in the 4th quarter worth approximately $12,017,000. NDVR Inc. increased its stake in Cardinal Health by 6.0% in the 4th quarter. NDVR Inc. now owns 2,611 shares of the company’s stock valued at $309,000 after purchasing an additional 147 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cardinal Health by 86.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,467 shares of the company’s stock valued at $7,625,000 after purchasing an additional 29,919 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH opened at $148.28 on Wednesday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $154.07. The company has a market capitalization of $35.39 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The stock has a fifty day moving average of $135.50 and a two-hundred day moving average of $126.92.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data 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 negative return on equity of 59.57% and a net margin of 0.59%. The business had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.38%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. Cardinal Health’s payout ratio is presently 31.83%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America upped their target price on Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, April 11th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Morgan Stanley lifted their target price on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Finally, Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $146.43.

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.