Flputnam Investment Management Co. Increases Stake in Cardinal Health, Inc. (NYSE:CAH)

Flputnam Investment Management Co. boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 180,586 shares of the company’s stock after purchasing an additional 3,148 shares during the period. Flputnam Investment Management Co.’s holdings in Cardinal Health were worth $21,358,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CAH. Frazier Financial Advisors LLC increased its holdings in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. Hara Capital LLC bought a new position in Cardinal Health during the 3rd quarter worth approximately $31,000. AM Squared Ltd purchased a new position in Cardinal Health in the 3rd quarter worth approximately $33,000. Kentucky Trust Co bought a new stake in Cardinal Health in the fourth quarter valued at approximately $41,000. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after purchasing an additional 144 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAH has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Mizuho initiated coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Finally, Argus set a $148.00 price objective on Cardinal Health in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.36.

Cardinal Health Stock Up 1.8 %

CAH opened at $129.71 on Friday. The stock has a market cap of $31.33 billion, a PE ratio of 24.20, a PEG ratio of 1.49 and a beta of 0.63. The business has a 50 day moving average of $124.74 and a 200-day moving average of $118.06. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $132.84.

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

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) 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.