Westfield Capital Management Co. LP Purchases 940 Shares of Cardinal Health, Inc. (NYSE:CAH)

Westfield Capital Management Co. LP lifted its position in Cardinal Health, Inc. (NYSE:CAHFree Report) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,123 shares of the company’s stock after purchasing an additional 940 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Cardinal Health were worth $4,246,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CAH. Norges Bank bought a new position in shares of Cardinal Health in the fourth quarter worth $258,499,000. Ameriprise Financial Inc. increased its stake in Cardinal Health by 82.2% in the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after acquiring an additional 1,862,291 shares during the last quarter. California Public Employees Retirement System increased its stake in Cardinal Health by 118.9% in the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after acquiring an additional 823,520 shares during the last quarter. International Assets Investment Management LLC bought a new position in Cardinal Health in the fourth quarter valued at $464,800,000. Finally, Deutsche Bank AG increased its stake in Cardinal Health by 64.9% in the third quarter. Deutsche Bank AG now owns 1,027,670 shares of the company’s stock valued at $89,222,000 after acquiring an additional 404,609 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.4 %

Shares of Cardinal Health stock traded up $0.34 during trading on Friday, reaching $96.39. 1,206,966 shares of the stock were exchanged, compared to its average volume of 2,037,521. The stock’s fifty day moving average is $104.75 and its 200 day moving average is $105.45. The firm has a market cap of $23.48 billion, a price-to-earnings ratio of 42.84, a price-to-earnings-growth ratio of 1.09 and a beta of 0.71. Cardinal Health, Inc. has a 1 year low of $80.90 and a 1 year high of $116.04.

Cardinal Health (NYSE:CAHGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. During the same period last year, the business posted $1.74 earnings per share. Cardinal Health’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.5056 dividend. The ex-dividend date is Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a yield of 2.10%. Cardinal Health’s dividend payout ratio (DPR) is 88.89%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CAH. SVB Leerink began coverage on Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 20th. Robert W. Baird reduced their price objective on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Finally, Argus reduced their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.57.

Read Our Latest Stock Report on CAH

Cardinal Health Company Profile

(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.

Further Reading

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

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