LPL Financial LLC Grows Holdings in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• LPL Financial LLC increased its stake in Cardinal Health, Inc. by 9.2%, holding 252,629 shares worth approximately $34.8 million as of the end of the first quarter.
• Cardinal Health recently reported earnings of $2.35 per share, surpassing analyst expectations and indicating a nominal year-over-year revenue growth of 0.0%.
• The company announced a quarterly dividend of $0.5107 per share, marking a slight increase from the previous dividend, with an annualized yield of 1.3%.

LPL Financial LLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 9.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 252,629 shares of the company's stock after acquiring an additional 21,353 shares during the quarter. LPL Financial LLC owned approximately 0.11% of Cardinal Health worth $34,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Invesco Ltd. lifted its stake in Cardinal Health by 4.6% in the 4th quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after purchasing an additional 140,368 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after purchasing an additional 1,913,892 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Cardinal Health by 16.2% during the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock valued at $359,286,000 after purchasing an additional 422,755 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cardinal Health by 4.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock valued at $274,599,000 after purchasing an additional 94,768 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Cardinal Health by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,601,322 shares of the company's stock valued at $189,390,000 after purchasing an additional 55,781 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Performance

CAH traded up $0.75 during trading on Friday, hitting $155.97. The stock had a trading volume of 1,592,812 shares, compared to its average volume of 1,711,515. The company has a market capitalization of $37.23 billion, a PE ratio of 24.33, a PEG ratio of 1.55 and a beta of 0.67. Cardinal Health, Inc. has a twelve month low of $96.05 and a twelve month high of $168.44. The stock has a 50 day simple moving average of $159.74 and a two-hundred day simple moving average of $142.94.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The business's quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $2.08 earnings per share. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, July 1st. Cardinal Health's dividend payout ratio is 31.83%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Bank of America increased their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Morgan Stanley upped their target price on shares of Cardinal Health from $181.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $136.00 to $179.00 in a research report on Tuesday, June 3rd. UBS Group increased their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Evercore ISI reissued an "outperform" rating and issued a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of "Moderate Buy" and an average target price of $158.07.

Cardinal Health 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.