Westfield Capital Management Co. LP Increases Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Westfield Capital Management Co. LP boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Aaron Wealth Advisors LLC lifted its stake in Cardinal Health by 1.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock worth $844,000 after purchasing an additional 97 shares in the last quarter. Schechter Investment Advisors LLC lifted its stake in Cardinal Health by 4.1% in the 4th quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock worth $250,000 after purchasing an additional 98 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Synovus Financial Corp lifted its stake in Cardinal Health by 0.3% in the 3rd quarter. Synovus Financial Corp now owns 54,076 shares of the company’s stock worth $4,695,000 after purchasing an additional 140 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Cardinal Health by 8.5% in the 4th quarter. Allworth Financial LP now owns 1,818 shares of the company’s stock worth $183,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. SVB Leerink assumed coverage on shares of Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price on the stock. Robert W. Baird reduced their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Evercore ISI boosted their target price on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. UBS Group boosted their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $107.57.

Cardinal Health Stock Up 0.4 %

NYSE:CAH traded up $0.34 during mid-day trading on Friday, hitting $96.39. 1,206,966 shares of the stock traded hands, compared to its average volume of 2,037,521. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 42.84, a PEG ratio of 1.09 and a beta of 0.71. The firm’s 50 day moving average is $104.75 and its two-hundred day moving average is $105.45. Cardinal Health, Inc. has a 52 week low of $80.90 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The business 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 company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.74 earnings per share. As a group, research analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is 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 dividend yield of 2.10%. Cardinal Health’s dividend payout ratio (DPR) is 88.89%.

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.