First Citizens Bank & Trust Co. lifted its position in Cardinal Health Inc (NYSE:CAH) by 4.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 49,778 shares of the company’s stock after purchasing an additional 2,124 shares during the period. First Citizens Bank & Trust Co.’s holdings in Cardinal Health were worth $2,431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Denali Advisors LLC raised its stake in Cardinal Health by 18.8% in the second quarter. Denali Advisors LLC now owns 116,400 shares of the company’s stock valued at $5,684,000 after purchasing an additional 18,400 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Cardinal Health by 60.4% in the second quarter. State of Alaska Department of Revenue now owns 85,802 shares of the company’s stock valued at $4,187,000 after purchasing an additional 32,296 shares in the last quarter. Capital Investment Advisors LLC raised its stake in Cardinal Health by 691.2% in the second quarter. Capital Investment Advisors LLC now owns 81,987 shares of the company’s stock valued at $4,003,000 after purchasing an additional 71,624 shares in the last quarter. Kempner Capital Management Inc. raised its stake in Cardinal Health by 33.6% in the second quarter. Kempner Capital Management Inc. now owns 93,038 shares of the company’s stock valued at $4,543,000 after purchasing an additional 23,402 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in Cardinal Health by 44.3% in the second quarter. IFM Investors Pty Ltd now owns 14,479 shares of the company’s stock valued at $707,000 after purchasing an additional 4,446 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on CAH shares. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Monday, April 2nd. Zacks Investment Research raised shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Monday, April 16th. Barclays lowered their target price on shares of Cardinal Health from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Monday, April 16th. Leerink Swann raised shares of Cardinal Health from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Tuesday, April 24th. Finally, Royal Bank of Canada set a $81.00 target price on shares of Cardinal Health and gave the company a “hold” rating in a research note on Tuesday, April 24th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $67.80.

Cardinal Health opened at $49.96 on Thursday, Marketbeat.com reports. The company has a market cap of $15.59 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 1.83 and a beta of 1.01. Cardinal Health Inc has a one year low of $48.28 and a one year high of $78.78. The company has a current ratio of 1.10, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 3rd. The company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.51 by ($0.12). The business had revenue of $33.63 billion for the quarter, compared to analysts’ expectations of $33.61 billion. Cardinal Health had a return on equity of 23.39% and a net margin of 1.26%. analysts anticipate that Cardinal Health Inc will post 4.92 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, July 15th. Shareholders of record on Monday, July 2nd will be paid a dividend of $0.476 per share. The ex-dividend date is Friday, June 29th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 3.81%. Cardinal Health’s dividend payout ratio (DPR) is 35.37%.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company worldwide. The company's Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare, and consumer products to retailers, hospitals, and other healthcare providers.

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

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