California State Teachers Retirement System Purchases 6,904 Shares of Cardinal Health, Inc. (NYSE:CAH)

California State Teachers Retirement System lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 402,696 shares of the company’s stock after purchasing an additional 6,904 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Cardinal Health worth $45,062,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Clearstead Trust LLC bought a new stake in Cardinal Health in the fourth quarter worth $25,000. Raleigh Capital Management Inc. boosted its holdings in 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 acquiring an additional 268 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Cardinal Health in the first quarter worth $32,000. Hexagon Capital Partners LLC boosted its holdings in Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after acquiring an additional 118 shares in the last quarter. Finally, Palisade Asset Management LLC purchased a new position in shares of Cardinal Health in the first quarter worth $34,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Up 1.1 %

CAH traded up $1.10 during midday trading on Thursday, reaching $101.93. The company had a trading volume of 27,838 shares, compared to its average volume of 2,137,381. The business has a 50-day moving average of $98.19 and a two-hundred day moving average of $103.48. The company has a market cap of $24.83 billion, a P/E ratio of 44.81, a P/E/G ratio of 1.11 and a beta of 0.61. Cardinal Health, Inc. has a 1 year low of $85.11 and a 1 year high of $116.04.

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

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were paid a dividend of $0.5056 per share. The ex-dividend date was Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 dividend on an annualized basis and a yield of 1.98%. Cardinal Health’s dividend payout ratio is presently 89.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAH. Robert W. Baird boosted their price target on Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Citigroup decreased their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Evercore ISI decreased their price target on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a research note on Tuesday, July 9th. Argus decreased their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Wells Fargo & Company reduced their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Company 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.