Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 1,283.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,588 shares of the company’s stock after purchasing an additional 8,895 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Cardinal Health were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CAH. Bellwether Advisors LLC acquired a new position in shares of Cardinal Health during the 4th quarter valued at about $32,000. Tompkins Financial Corp increased its stake in shares of Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company’s stock valued at $34,000 after acquiring an additional 128 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Cardinal Health during the 4th quarter valued at about $36,000. GW&K Investment Management LLC increased its stake in shares of Cardinal Health by 113.4% during the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares during the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of Cardinal Health during the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Morgan Stanley increased their target price on shares of Cardinal Health from $181.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Citigroup reissued a “neutral” rating and set a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. UBS Group increased their target price 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. Finally, Evercore ISI reissued an “outperform” rating and set a $180.00 target price (up previously from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.07.

Cardinal Health Stock Up 0.6%

NYSE CAH opened at $157.33 on Wednesday. The stock has a market cap of $37.55 billion, a PE ratio of 24.54, a P/E/G ratio of 1.55 and a beta of 0.68. Cardinal Health, Inc. has a fifty-two week low of $96.05 and a fifty-two week high of $168.44. The business has a 50 day moving average price of $159.53 and a two-hundred day moving average price of $142.13.

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

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.5107 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, July 1st. Cardinal Health’s dividend payout ratio is 31.83%.

About Cardinal Health

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.