Rehmann Capital Advisory Group Has $317,000 Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Rehmann Capital Advisory Group raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 12.2% in the first quarter, Holdings Channel reports. The institutional investor owned 2,833 shares of the company’s stock after buying an additional 307 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Cardinal Health were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CAH. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Cardinal Health by 238.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 9,783 shares of the company’s stock valued at $1,095,000 after purchasing an additional 6,894 shares during the last quarter. Patron Partners LLC bought a new position in Cardinal Health during the 1st quarter worth about $213,000. Whittier Trust Co. boosted its position in shares of Cardinal Health by 42.1% during the first quarter. Whittier Trust Co. now owns 1,208 shares of the company’s stock worth $135,000 after buying an additional 358 shares during the period. Mutual Advisors LLC grew its holdings in shares of Cardinal Health by 32.5% during the first quarter. Mutual Advisors LLC now owns 15,548 shares of the company’s stock worth $1,740,000 after buying an additional 3,816 shares in the last quarter. Finally, Chase Investment Counsel Corp acquired a new stake in Cardinal Health in the 1st quarter valued at approximately $3,169,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

NYSE:CAH traded down $0.36 during trading hours on Wednesday, hitting $95.65. The company’s stock had a trading volume of 784,561 shares, compared to its average volume of 2,190,941. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The stock has a fifty day simple moving average of $98.91 and a 200-day simple moving average of $104.25. The company has a market capitalization of $23.30 billion, a P/E ratio of 42.53, a PEG ratio of 1.07 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.74 EPS. On average, equities analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Monday, July 1st. Cardinal Health’s payout ratio is 89.78%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CAH. Wells Fargo & Company decreased their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. Robert W. Baird raised their target price on shares of Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday. Argus cut their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Evercore ISI decreased their price objective on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a report on Tuesday. Finally, StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

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.