Partners in Financial Planning Acquires New Position in Cardinal Health, Inc. (NYSE:CAH)

Partners in Financial Planning bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 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. State Street Corp raised its position in shares of Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after purchasing an additional 627,253 shares during the period. Geode Capital Management LLC increased its stake 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 worth $633,298,000 after buying an additional 42,082 shares in the last quarter. Amundi raised its holdings in Cardinal Health by 5.5% during the fourth quarter. Amundi now owns 2,116,291 shares of the company’s stock valued at $259,309,000 after acquiring an additional 110,605 shares during the period. Norges Bank purchased a new position in shares of Cardinal Health in the fourth quarter valued at about $246,748,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Cardinal Health by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock worth $179,653,000 after acquiring an additional 44,386 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $136.43 on Monday. The stock has a market cap of $32.96 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The stock has a 50 day moving average price of $128.36 and a 200-day moving average price of $120.86. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $137.18.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Analyst Ratings Changes

A number of research firms recently commented on CAH. Citigroup boosted their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley upped their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Argus set a $148.00 price target on shares of Cardinal Health in a report on Tuesday, February 4th. Finally, Wells Fargo & Company increased their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $139.36.

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.