Altshuler Shaham Ltd Acquires Shares of 452 Cardinal Health, Inc. (NYSE:CAH)

Altshuler Shaham Ltd acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 452 shares of the company’s stock, valued at approximately $46,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Commonwealth Equity Services LLC boosted its position in shares of Cardinal Health by 9.3% during the third quarter. Commonwealth Equity Services LLC now owns 84,096 shares of the company’s stock worth $7,301,000 after purchasing an additional 7,174 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Cardinal Health by 5.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 37,173 shares of the company’s stock worth $3,227,000 after purchasing an additional 2,024 shares in the last quarter. Raymond James & Associates boosted its position in shares of Cardinal Health by 3.8% during the third quarter. Raymond James & Associates now owns 255,118 shares of the company’s stock worth $22,149,000 after purchasing an additional 9,277 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Cardinal Health by 13.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 99,296 shares of the company’s stock worth $8,621,000 after purchasing an additional 11,451 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in shares of Cardinal Health by 42.8% during the third quarter. Lindbrook Capital LLC now owns 764 shares of the company’s stock worth $66,000 after purchasing an additional 229 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CAH shares. Evercore ISI lifted their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. SVB Leerink started coverage on shares of Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. Robert W. Baird cut 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 report on Friday, May 3rd. Finally, Wells Fargo & Company cut their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.79.

Cardinal Health Price Performance

CAH stock traded down $2.27 during midday trading on Wednesday, hitting $97.45. The company’s stock had a trading volume of 2,280,585 shares, compared to its average volume of 2,284,416. Cardinal Health, Inc. has a twelve month low of $80.90 and a twelve month high of $116.04. The company’s fifty day moving average price is $108.38 and its 200 day moving average price is $105.21. The stock has a market capitalization of $23.74 billion, a P/E ratio of 43.31, a PEG ratio of 1.01 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. Cardinal Health’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.74 EPS. Equities analysts expect that Cardinal Health, Inc. will post 7.34 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 2.08%. Cardinal Health’s payout ratio is currently 88.89%.

Cardinal Health Company 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.