HighTower Advisors LLC boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,618 shares of the company’s stock after buying an additional 3,090 shares during the quarter. HighTower Advisors LLC’s holdings in Cardinal Health were worth $4,022,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. People s United Financial Inc. lifted its stake in Cardinal Health by 92.5% in the 2nd quarter. People s United Financial Inc. now owns 14,001 shares of the company’s stock valued at $1,091,000 after acquiring an additional 6,729 shares in the last quarter. First Allied Advisory Services Inc. grew its stake in shares of Cardinal Health by 13.8% during the 2nd quarter. First Allied Advisory Services Inc. now owns 12,748 shares of the company’s stock worth $995,000 after acquiring an additional 1,542 shares in the last quarter. Balyasny Asset Management LLC grew its stake in shares of Cardinal Health by 236.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 867,185 shares of the company’s stock worth $67,571,000 after acquiring an additional 609,454 shares in the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Cardinal Health during the 2nd quarter worth approximately $224,000. Finally, HealthCor Management L.P. bought a new position in shares of Cardinal Health during the 2nd quarter worth approximately $84,496,000. Hedge funds and other institutional investors own 87.98% of the company’s stock.

Shares of Cardinal Health, Inc. (CAH) opened at 67.85 on Wednesday. The stock’s 50 day moving average is $67.07 and its 200-day moving average is $73.63. The company has a market cap of $21.47 billion, a P/E ratio of 16.84 and a beta of 0.86. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $84.88.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The firm had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $32.73 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. Equities research analysts forecast that Cardinal Health, Inc. will post $4.95 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be given a $0.4624 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.74%. Cardinal Health’s dividend payout ratio (DPR) is presently 45.79%.

A number of research firms have recently commented on CAH. BidaskClub downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Credit Suisse Group lowered their target price on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. UBS AG reaffirmed a “neutral” rating and issued a $76.00 target price (down previously from $79.00) on shares of Cardinal Health in a research report on Wednesday, August 9th. Cowen and Company restated a “market perform” rating and issued a $77.00 price target (down from $82.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Cardinal Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Cardinal Health currently has an average rating of “Hold” and a consensus target price of $76.81.

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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.

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

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