15,566 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by Park National Corp OH

Park National Corp OH acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,566 shares of the company’s stock, valued at approximately $1,742,000.

Several other hedge funds have also recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its position in Cardinal Health by 82.2% during the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after acquiring an additional 1,862,291 shares during the last quarter. Northern Trust Corp raised its position in shares of Cardinal Health by 0.9% in the third quarter. Northern Trust Corp now owns 3,340,547 shares of the company’s stock valued at $290,026,000 after buying an additional 28,412 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Cardinal Health by 17.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock valued at $264,052,000 after buying an additional 389,431 shares in the last quarter. Norges Bank acquired a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $258,499,000. Finally, AQR Capital Management LLC raised its position in shares of Cardinal Health by 0.8% in the third quarter. AQR Capital Management LLC now owns 2,496,531 shares of the company’s stock valued at $216,749,000 after buying an additional 19,287 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective 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. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 28th. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Robert W. Baird decreased their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Finally, SVB Leerink assumed coverage on shares of Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Stock Up 3.1 %

Shares of Cardinal Health stock opened at $104.09 on Wednesday. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The stock has a market cap of $25.35 billion, a price-to-earnings ratio of 46.26, a P/E/G ratio of 1.14 and a beta of 0.64. The company’s fifty day moving average is $100.64 and its 200 day moving average is $104.76.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.74 earnings per share. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.5056 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. This represents a $2.02 annualized dividend and a yield of 1.94%. Cardinal Health’s payout ratio is presently 88.89%.

Cardinal Health Company 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.