Cardinal Health, Inc. (NYSE:CAH) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 289,332 shares of the company’s stock after buying an additional 34,214 shares during the quarter. Raymond James & Associates’ holdings in Cardinal Health were worth $29,165,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Cypress Capital Group boosted its position in Cardinal Health by 0.7% during the 3rd quarter. Cypress Capital Group now owns 17,133 shares of the company’s stock worth $1,487,000 after purchasing an additional 111 shares during the period. MBM Wealth Consultants LLC grew its stake in shares of Cardinal Health by 3.7% in the third quarter. MBM Wealth Consultants LLC now owns 3,238 shares of the company’s stock valued at $302,000 after buying an additional 115 shares in the last quarter. Keystone Wealth Services LLC grew its stake in shares of Cardinal Health by 3.7% in the third quarter. Keystone Wealth Services LLC now owns 3,388 shares of the company’s stock valued at $294,000 after buying an additional 121 shares in the last quarter. G&S Capital LLC raised its holdings in shares of Cardinal Health by 1.4% during the 3rd quarter. G&S Capital LLC now owns 9,407 shares of the company’s stock valued at $817,000 after buying an additional 128 shares during the period. Finally, Monument Capital Management lifted its position in Cardinal Health by 3.0% during the 3rd quarter. Monument Capital Management now owns 4,639 shares of the company’s stock worth $403,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CAH shares. Barclays assumed coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price for the company. UBS Group raised their target price on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. TheStreet cut Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. Wells Fargo & Company began coverage on Cardinal Health in a report on Thursday, December 14th. They issued an “underweight” rating and a $96.00 price target for the company. Finally, SVB Leerink started coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.07.

Check Out Our Latest Analysis on Cardinal Health

Cardinal Health Price Performance

Shares of CAH opened at $111.90 on Friday. The stock has a market capitalization of $27.22 billion, a PE ratio of 44.06, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. The business’s fifty day moving average price is $108.63 and its 200 day moving average price is $102.17. Cardinal Health, Inc. has a 12-month low of $72.52 and a 12-month high of $116.04.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. During the same period last year, the firm posted $1.32 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.29 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

About Cardinal Health

(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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