Larson Financial Group LLC Buys 1,898 Shares of Cardinal Health, Inc. (NYSE:CAH)

Larson Financial Group LLC grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 98.3% in the 1st quarter, Holdings Channel reports. The firm owned 3,828 shares of the company’s stock after purchasing an additional 1,898 shares during the period. Larson Financial Group LLC’s holdings in Cardinal Health were worth $428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CAH. Norges Bank bought a new position in shares of Cardinal Health in the 4th quarter worth about $258,499,000. California Public Employees Retirement System boosted its stake in Cardinal Health by 118.9% in the 4th quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock worth $152,816,000 after purchasing an additional 823,520 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Cardinal Health in the fourth quarter worth approximately $464,800,000. CIBC Private Wealth Group LLC increased its holdings in shares of Cardinal Health by 1,941.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock worth $46,183,000 after purchasing an additional 435,722 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Cardinal Health by 64.9% in the 3rd quarter. Deutsche Bank AG now owns 1,027,670 shares of the company’s stock worth $89,222,000 after buying an additional 404,609 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAH. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Argus lowered their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Robert W. Baird boosted their price target on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company lowered their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Finally, Evercore ISI reduced their target price on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $109.00.

Cardinal Health Trading Down 0.4 %

CAH traded down $0.42 during trading hours on Wednesday, hitting $95.59. The company’s stock had a trading volume of 1,612,563 shares, compared to its average volume of 2,197,261. Cardinal Health, Inc. has a 12 month low of $85.11 and a 12 month high of $116.04. The business’s 50-day moving average price is $98.91 and its 200-day moving average price is $104.25. The stock has a market cap of $23.28 billion, a price-to-earnings ratio of 42.53, a P/E/G ratio of 1.07 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its earnings results 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. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. During the same period in the previous year, the firm posted $1.74 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share 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 issued a $0.5056 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.12%. Cardinal Health’s payout ratio is 89.78%.

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.