Janney Montgomery Scott LLC Has $32.68 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Janney Montgomery Scott LLC trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 237,219 shares of the company’s stock after selling 13,806 shares during the period. Janney Montgomery Scott LLC owned approximately 0.10% of Cardinal Health worth $32,682,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cyrus J. Lawrence LLC acquired a new stake in Cardinal Health during the fourth quarter worth about $26,000. Promus Capital LLC bought a new position in shares of Cardinal Health in the fourth quarter worth about $30,000. Bellwether Advisors LLC bought a new position in shares of Cardinal Health in the fourth quarter worth about $32,000. Tompkins Financial Corp lifted its holdings in shares of Cardinal Health by 106.7% in the first quarter. Tompkins Financial Corp now owns 248 shares of the company’s stock worth $34,000 after acquiring an additional 128 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health in the fourth quarter worth about $35,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group raised their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Robert W. Baird raised their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Bank of America raised their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Cardinal Health Stock Performance

NYSE:CAH opened at $164.89 on Wednesday. The company has a market capitalization of $39.36 billion, a PE ratio of 25.72, a P/E/G ratio of 1.81 and a beta of 0.66. The company has a 50 day simple moving average of $147.47 and a two-hundred day simple moving average of $133.26. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $165.42.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.15 by $0.20. The company had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. Research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.24%. Cardinal Health’s dividend payout ratio (DPR) is 31.51%.

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.