New York State Common Retirement Fund Has $45.71 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

New York State Common Retirement Fund grew its position in Cardinal Health, Inc. (NYSE:CAHFree Report) by 2.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 331,748 shares of the company’s stock after purchasing an additional 7,072 shares during the quarter. New York State Common Retirement Fund’s holdings in Cardinal Health were worth $45,705,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. raised its position in shares of Cardinal Health by 11.2% in the 1st quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company’s stock valued at $106,000 after buying an additional 77 shares in the last quarter. CSS LLC IL raised its position in shares of Cardinal Health by 0.8% in the 4th quarter. CSS LLC IL now owns 11,190 shares of the company’s stock valued at $1,323,000 after buying an additional 90 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Cardinal Health by 4.2% in the 1st quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company’s stock valued at $309,000 after buying an additional 90 shares in the last quarter. Smith Shellnut Wilson LLC ADV increased its position in Cardinal Health by 2.1% during the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company’s stock worth $606,000 after purchasing an additional 91 shares in the last quarter. Finally, TIAA Trust National Association increased its position in Cardinal Health by 4.5% during the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock worth $258,000 after purchasing an additional 94 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 firms recently issued reports on CAH. Evercore ISI reiterated an “outperform” rating and set a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. UBS Group upped their price objective 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 reiterated a “neutral” rating and set a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 5th. Finally, Morgan Stanley set a $181.00 price objective on shares of Cardinal Health and gave the stock an “overweight” rating in a research report on Friday, June 13th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Get Our Latest Report on Cardinal Health

Cardinal Health Stock Up 0.5%

Shares of NYSE CAH opened at $161.70 on Tuesday. The firm has a market cap of $38.59 billion, a PE ratio of 25.23, a P/E/G ratio of 1.59 and a beta of 0.68. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $168.44. The company’s fifty day simple moving average is $157.67 and its 200 day simple moving average is $139.03.

Cardinal Health (NYSE:CAHGet Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.20. The business had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. Cardinal Health’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. The ex-dividend date is Tuesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.26%. Cardinal Health’s dividend payout ratio is currently 31.83%.

About Cardinal Health

(Free Report)

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.

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

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