LPL Financial LLC Purchases 14,623 Shares of Cardinal Health, Inc. (NYSE:CAH)

LPL Financial LLC boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 6.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 231,276 shares of the company’s stock after purchasing an additional 14,623 shares during the period. LPL Financial LLC owned about 0.10% of Cardinal Health worth $27,353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cardinal Health by 35.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock valued at $3,871,000 after acquiring an additional 8,471 shares during the last quarter. CHURCHILL MANAGEMENT Corp grew its stake in Cardinal Health by 1.5% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after purchasing an additional 3,576 shares during the period. Geode Capital Management LLC increased its position in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares during the last quarter. Consolidated Planning Corp raised its stake in shares of Cardinal Health by 40.0% during the 4th quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock worth $1,056,000 after purchasing an additional 2,552 shares during the period. Finally, Flputnam Investment Management Co. grew its position in Cardinal Health by 1.8% during the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company’s stock valued at $21,358,000 after buying an additional 3,148 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of several research reports. Argus set a $148.00 price objective on shares of Cardinal Health in a research report on Tuesday, February 4th. Wells Fargo & Company upped their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a report on Tuesday, January 7th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Mizuho started coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Stock Performance

Shares of CAH stock opened at $136.43 on Friday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $137.18. The business’s fifty day moving average is $128.36 and its 200 day moving average is $120.80. The company has a market capitalization of $32.96 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 37.69%.

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.