Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by LMG Wealth Partners LLC

LMG Wealth Partners LLC raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,807 shares of the company’s stock after purchasing an additional 756 shares during the period. Cardinal Health comprises approximately 2.3% of LMG Wealth Partners LLC’s holdings, making the stock its 9th largest holding. LMG Wealth Partners LLC’s holdings in Cardinal Health were worth $10,740,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Raymond James & Associates boosted its stake in Cardinal Health by 7.4% during the 3rd quarter. Raymond James & Associates now owns 309,960 shares of the company’s stock valued at $34,257,000 after acquiring an additional 21,414 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Cardinal Health by 36.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 254,631 shares of the company’s stock valued at $28,142,000 after purchasing an additional 68,382 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Cardinal Health by 39.7% during the third quarter. Sequoia Financial Advisors LLC now owns 7,670 shares of the company’s stock worth $848,000 after purchasing an additional 2,178 shares during the last quarter. Signaturefd LLC lifted its position in shares of Cardinal Health by 18.7% during the third quarter. Signaturefd LLC now owns 2,701 shares of the company’s stock worth $298,000 after purchasing an additional 425 shares during the last quarter. Finally, Eastern Bank acquired a new position in Cardinal Health in the third quarter worth about $25,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Mizuho initiated coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Barclays lifted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. UBS Group increased their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.87.

Cardinal Health Stock Performance

NYSE:CAH opened at $126.63 on Thursday. The stock has a market cap of $30.59 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 1.48 and a beta of 0.63. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $132.84. The business has a fifty day moving average of $123.25 and a 200-day moving average of $116.81.

Cardinal Health (NYSE:CAH) last announced its earnings results 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, equities research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s payout ratio is 37.69%.

Cardinal Health 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.