Hennion & Walsh Asset Management Inc. Purchases 2,488 Shares of Cardinal Health, Inc. (NYSE:CAH)

Hennion & Walsh Asset Management Inc. increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 15.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 18,694 shares of the company’s stock after buying an additional 2,488 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Cardinal Health were worth $1,838,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clearstead Trust LLC bought a new position in Cardinal Health in the 4th quarter valued at $25,000. Raleigh Capital Management Inc. lifted its stake in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $32,000. LRI Investments LLC acquired a new position in shares of Cardinal Health in the first quarter valued at approximately $32,000. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAH shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday. UBS Group raised their target price on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley lifted their target price on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday. Argus cut their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, Evercore ISI upped their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $117.45.

Cardinal Health Stock Down 0.5 %

Shares of NYSE:CAH traded down $0.54 during midday trading on Monday, reaching $109.31. The company’s stock had a trading volume of 654,364 shares, compared to its average volume of 2,145,435. The firm has a market capitalization of $26.62 billion, a PE ratio of 48.36, a P/E/G ratio of 1.14 and a beta of 0.61. The stock has a fifty day moving average of $99.38 and a 200 day moving average of $103.17. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.506 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 annualized dividend and a yield of 1.85%. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Cardinal Health 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.