1,874 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by TIAA Trust National Association

TIAA Trust National Association bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,874 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Clearstead Trust LLC bought a new stake in Cardinal Health in the 4th quarter worth about $25,000. Raleigh Capital Management Inc. grew its position in shares of Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after acquiring an additional 268 shares during the period. YHB Investment Advisors Inc. bought a new position in shares of Cardinal Health during the 1st quarter valued at approximately $32,000. BKM Wealth Management LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at approximately $30,000. Finally, Palisade Asset Management LLC bought a new position in shares of Cardinal Health during the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Cardinal Health stock traded up $0.23 during trading hours on Monday, reaching $95.26. The stock had a trading volume of 631,371 shares, compared to its average volume of 2,170,294. The company has a fifty day simple moving average of $98.16 and a 200-day simple moving average of $103.88. Cardinal Health, Inc. has a 52 week low of $85.11 and a 52 week high of $116.04. The stock has a market cap of $23.20 billion, a PE ratio of 42.56, a PEG ratio of 1.05 and a beta of 0.61.

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, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. During the same period in the previous year, the company earned $1.74 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Research analysts predict that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 2.12%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, July 1st. Cardinal Health’s payout ratio is presently 89.78%.

Analyst Ratings Changes

CAH has been the topic of several recent analyst reports. Argus lowered 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 note on Wednesday, May 15th. Wells Fargo & Company lowered 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 note on Monday, April 29th. Citigroup lowered their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday. Evercore ISI lowered their target price on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Finally, Robert W. Baird raised their price objective on shares of Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.67.

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.