Los Angeles Capital Management LLC Acquires 34,204 Shares of Cardinal Health, Inc. (NYSE:CAH)

Los Angeles Capital Management LLC boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 76.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,791 shares of the company’s stock after purchasing an additional 34,204 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Cardinal Health were worth $7,942,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CAH. Commonwealth Equity Services LLC raised its holdings in Cardinal Health by 9.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 84,096 shares of the company’s stock valued at $7,301,000 after acquiring an additional 7,174 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Cardinal Health by 5.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 37,173 shares of the company’s stock worth $3,227,000 after purchasing an additional 2,024 shares during the period. Raymond James & Associates lifted its holdings in Cardinal Health by 3.8% during the 3rd quarter. Raymond James & Associates now owns 255,118 shares of the company’s stock worth $22,149,000 after purchasing an additional 9,277 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Cardinal Health by 13.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 99,296 shares of the company’s stock worth $8,621,000 after purchasing an additional 11,451 shares during the last quarter. Finally, Independent Advisor Alliance boosted its stake in Cardinal Health by 11.9% in the 3rd quarter. Independent Advisor Alliance now owns 13,042 shares of the company’s stock valued at $1,132,000 after purchasing an additional 1,384 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Down 4.0 %

Cardinal Health stock opened at $98.91 on Friday. The stock has a market cap of $24.06 billion, a PE ratio of 43.96, a P/E/G ratio of 0.99 and a beta of 0.71. Cardinal Health, Inc. has a 12-month low of $77.56 and a 12-month high of $116.04. The business’s 50-day moving average price is $109.10 and its two-hundred day moving average price is $105.09.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) 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 business had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. During the same period in the prior year, the company earned $1.74 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts expect that Cardinal Health, Inc. will post 7.34 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 given a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. Cardinal Health’s dividend payout ratio is currently 88.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CAH shares. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Thursday. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. UBS Group raised their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Wells Fargo & Company dropped their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $105.79.

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.