Larson Financial Group LLC Increases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Larson Financial Group LLC increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 52.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,930 shares of the company’s stock after acquiring an additional 667 shares during the period. Larson Financial Group LLC’s holdings in Cardinal Health were worth $195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAH. Cornerstone Planning Group LLC purchased a new stake in Cardinal Health in the third quarter worth $26,000. BKM Wealth Management LLC purchased a new stake in Cardinal Health in the fourth quarter worth $30,000. Wetzel Investment Advisors Inc. purchased a new stake in Cardinal Health in the fourth quarter worth $36,000. Headlands Technologies LLC purchased a new stake in Cardinal Health in the third quarter worth $47,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Cardinal Health in the fourth quarter worth $59,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.2 %

CAH opened at $103.54 on Thursday. The stock has a market capitalization of $25.18 billion, a price-to-earnings ratio of 40.76, a PEG ratio of 1.00 and a beta of 0.68. The firm has a 50 day moving average price of $109.56 and a 200-day moving average price of $104.59. Cardinal Health, Inc. has a twelve month low of $77.56 and a twelve month high of $116.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. During the same period in the prior year, the firm earned $1.32 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. As a group, analysts expect that Cardinal Health, Inc. will post 7.28 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.5006 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s payout ratio is currently 78.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group increased their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. TheStreet downgraded Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, Barclays started coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $103.07.

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.