Cardinal Health, Inc. (NYSE:CAH) Holdings Decreased by Total Wealth Planning & Management Inc.

Total Wealth Planning & Management Inc. decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,804 shares of the company’s stock after selling 222 shares during the quarter. Total Wealth Planning & Management Inc.’s holdings in Cardinal Health were worth $662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc boosted its holdings in shares of Cardinal Health by 34.3% in the fourth quarter. IFP Advisors Inc now owns 2,701 shares of the company’s stock valued at $319,000 after acquiring an additional 690 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of Cardinal Health by 2.7% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock valued at $411,000 after purchasing an additional 93 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in shares of Cardinal Health by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 96,071 shares of the company’s stock worth $11,362,000 after buying an additional 1,600 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at $14,995,000. Finally, QRG Capital Management Inc. lifted its holdings in shares of Cardinal Health by 8.2% in the fourth quarter. QRG Capital Management Inc. now owns 32,602 shares of the company’s stock valued at $3,856,000 after buying an additional 2,467 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Evercore ISI reiterated an “outperform” rating and issued a $180.00 price target (up from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. UBS Group lifted their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Citigroup reissued a “neutral” rating and set a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company upgraded Cardinal Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $157.43.

Cardinal Health Trading Up 1.1%

Shares of NYSE CAH opened at $165.61 on Friday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $166.32. The business has a 50-day moving average price of $151.92 and a two-hundred day moving average price of $135.19. The firm has a market capitalization of $39.53 billion, a PE ratio of 25.84, a PEG ratio of 1.83 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The business had revenue of $54.88 billion during the quarter, compared to analysts’ expectations of $55.33 billion. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the company posted $2.08 earnings per share. Research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. The ex-dividend date is Tuesday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.23%. Cardinal Health’s dividend payout ratio is 31.51%.

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.