Partners in Financial Planning Takes $256,000 Position in Cardinal Health, Inc. (NYSE:CAH)

Partners in Financial Planning acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,163 shares of the company’s stock, valued at approximately $256,000.

Several other large investors have also added to or reduced their stakes in CAH. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cardinal Health by 35.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock worth $3,871,000 after buying an additional 8,471 shares in the last quarter. CHURCHILL MANAGEMENT Corp lifted 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 worth $28,435,000 after purchasing an additional 3,576 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cardinal Health by 0.7% in 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 period. Consolidated Planning Corp grew its position 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 valued at $1,056,000 after purchasing an additional 2,552 shares in the last quarter. Finally, Flputnam Investment Management Co. increased its holdings in shares of Cardinal Health by 1.8% in the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company’s stock worth $21,358,000 after purchasing an additional 3,148 shares during the period. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CAH. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research report on Tuesday, January 7th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Argus set a $148.00 price objective on Cardinal Health in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.36.

Cardinal Health Stock Down 0.2 %

Shares of NYSE CAH opened at $136.43 on Monday. The firm has a market cap of $32.96 billion, a P/E ratio of 25.45, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $137.18. The company has a 50 day moving average of $128.36 and a 200 day moving average of $120.86.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share 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%. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.48%. Cardinal Health’s dividend payout ratio is presently 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.