Wedge Capital Management L L P NC Grows Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Wedge Capital Management L L P NC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 255,464 shares of the company’s stock after acquiring an additional 13,696 shares during the quarter. Wedge Capital Management L L P NC owned about 0.11% of Cardinal Health worth $35,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CAH. Rothschild Investment LLC raised its stake in shares of Cardinal Health by 10.1% during the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock valued at $101,000 after purchasing an additional 79 shares during the period. CSS LLC IL grew its holdings in Cardinal Health by 0.8% during the 4th quarter. CSS LLC IL now owns 11,190 shares of the company’s stock valued at $1,323,000 after buying an additional 90 shares in the last quarter. Private Trust Co. NA grew its holdings in Cardinal Health by 11.0% during the 4th quarter. Private Trust Co. NA now owns 930 shares of the company’s stock valued at $110,000 after buying an additional 92 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of Cardinal Health by 2.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock valued at $411,000 after buying an additional 93 shares during the period. Finally, TIAA Trust National Association lifted its holdings in shares of Cardinal Health by 4.5% in the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock worth $258,000 after buying an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

NYSE:CAH opened at $154.68 on Friday. The company has a market capitalization of $36.92 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.49 and a beta of 0.66. The business has a 50 day moving average of $143.52 and a 200 day moving average of $131.51. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $157.82.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.15 by $0.20. The firm had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The business’s revenue was up .0% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.32%. Cardinal Health’s payout ratio is currently 31.83%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CAH. Wells Fargo & Company upgraded shares of Cardinal Health from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Citigroup reiterated a “neutral” rating on shares of Cardinal Health in a research report on Thursday, May 1st. Morgan Stanley boosted their target price on Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Finally, Bank of America lifted their price target on Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.50.

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.