Tower Research Capital LLC TRC Buys 28,072 Shares of Cardinal Health, Inc. (NYSE:CAH)

Tower Research Capital LLC TRC lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 267.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,551 shares of the company’s stock after purchasing an additional 28,072 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Cardinal Health were worth $3,886,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAH. Norges Bank acquired a new stake in Cardinal Health during the 4th quarter worth approximately $258,499,000. Ameriprise Financial Inc. boosted its position in Cardinal Health by 82.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after buying an additional 1,862,291 shares during the period. California Public Employees Retirement System boosted its position in Cardinal Health by 118.9% during the 4th quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock worth $152,816,000 after buying an additional 823,520 shares during the period. International Assets Investment Management LLC acquired a new stake in Cardinal Health during the 4th quarter worth approximately $464,800,000. Finally, CIBC Private Wealth Group LLC boosted its position in Cardinal Health by 1,941.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock worth $46,183,000 after buying an additional 435,722 shares during the period. 87.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CAH. Wells Fargo & Company cut their target price 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. Evercore ISI lifted their target price 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. Argus cut their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Robert W. Baird dropped their price target 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, StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.57.

Read Our Latest Stock Analysis on CAH

Cardinal Health Stock Down 0.3 %

NYSE:CAH opened at $98.51 on Friday. The company has a fifty day moving average of $102.21 and a 200-day moving average of $105.09. The firm has a market capitalization of $23.99 billion, a P/E ratio of 43.78, a P/E/G ratio of 1.11 and a beta of 0.64. Cardinal Health, Inc. has a twelve month low of $83.78 and a twelve month high of $116.04.

Cardinal Health (NYSE:CAHGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion during 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 quarter in the previous year, the business posted $1.74 EPS. On average, analysts anticipate that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business 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 $0.5056 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.02 annualized dividend and a dividend yield of 2.05%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is currently 88.89%.

About Cardinal Health

(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.

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

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