Envestnet Asset Management Inc. Increases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Envestnet Asset Management Inc. boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 13.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 631,858 shares of the company’s stock after buying an additional 73,102 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of Cardinal Health worth $63,691,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Exencial Wealth Advisors LLC grew its position in shares of Cardinal Health by 4.8% during the 4th quarter. Exencial Wealth Advisors LLC now owns 5,496 shares of the company’s stock valued at $554,000 after acquiring an additional 251 shares during the period. Pinebridge Investments L.P. grew its holdings in Cardinal Health by 237.7% during the fourth quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock valued at $17,290,000 after purchasing an additional 120,740 shares during the period. Cibc World Markets Corp increased its position in Cardinal Health by 125.7% in the fourth quarter. Cibc World Markets Corp now owns 31,718 shares of the company’s stock worth $3,197,000 after buying an additional 17,666 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Cardinal Health by 4.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 16,631 shares of the company’s stock worth $1,676,000 after buying an additional 747 shares during the last quarter. Finally, Morningstar Investment Management LLC bought a new stake in shares of Cardinal Health in the fourth quarter valued at $227,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE:CAH opened at $98.84 on Tuesday. Cardinal Health, Inc. has a 52-week low of $85.11 and a 52-week high of $116.04. The stock has a fifty day moving average of $101.68 and a 200 day moving average of $104.98. The firm has a market capitalization of $24.07 billion, a price-to-earnings ratio of 43.93, a P/E/G ratio of 1.12 and a beta of 0.64.

Cardinal Health (NYSE:CAHGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter last year, the company posted $1.74 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Monday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is currently 89.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Evercore ISI lifted their price objective on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 28th. Argus dropped 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 note on Wednesday, May 15th. SVB Leerink began coverage on shares of Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $107.57.

View Our Latest Analysis on Cardinal Health

Cardinal Health Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.