Advisor Partners LLC increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,353 shares of the company’s stock after buying an additional 589 shares during the period. Advisor Partners LLC’s holdings in Cardinal Health were worth $573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its position in Cardinal Health by 282.1% in the second quarter. Cullen Frost Bankers Inc. now owns 55,085 shares of the company’s stock valued at $4,292,000 after buying an additional 40,667 shares during the period. Retirement Systems of Alabama boosted its position in Cardinal Health by 0.3% in the second quarter. Retirement Systems of Alabama now owns 248,757 shares of the company’s stock valued at $19,383,000 after buying an additional 671 shares during the period. IFP Advisors Inc boosted its position in Cardinal Health by 6.8% in the second quarter. IFP Advisors Inc now owns 4,821 shares of the company’s stock valued at $376,000 after buying an additional 305 shares during the period. Lowe Brockenbrough & Co. Inc. boosted its position in Cardinal Health by 0.7% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 24,758 shares of the company’s stock valued at $1,929,000 after buying an additional 175 shares during the period. Finally, Welch & Forbes LLC boosted its position in Cardinal Health by 22.1% in the second quarter. Welch & Forbes LLC now owns 29,241 shares of the company’s stock valued at $2,279,000 after buying an additional 5,297 shares during the period. Institutional investors and hedge funds own 87.09% of the company’s stock.

Cardinal Health, Inc. (NYSE CAH) opened at 69.24 on Tuesday. The company has a market cap of $21.88 billion, a P/E ratio of 17.18 and a beta of 0.80. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month high of $84.90. The stock’s 50 day moving average is $77.38 and its 200-day moving average is $77.27.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.07. The business had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Analysts predict that Cardinal Health, Inc. will post $5.00 earnings per share for the current fiscal year.

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Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday. BidaskClub cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday. UBS AG restated a “neutral” rating and set a $76.00 target price (down from $79.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Cowen and Company restated a “market perform” rating and set a $77.00 target price (down from $82.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Finally, Credit Suisse Group reduced their target price on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $80.46.

In other news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $72.87, for a total value of $1,695,684.90. Following the transaction, the insider now directly owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.94% of the company’s stock.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

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

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