Mission Wealth Management LP Grows Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Mission Wealth Management LP raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,662 shares of the company’s stock after buying an additional 416 shares during the period. Mission Wealth Management LP’s holdings in Cardinal Health were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC boosted its position in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares during the period. Hara Capital LLC purchased a new stake in Cardinal Health in the 3rd quarter valued at about $31,000. AM Squared Ltd purchased a new stake in Cardinal Health in the 3rd quarter valued at about $33,000. Kentucky Trust Co purchased a new stake in Cardinal Health in the 4th quarter valued at about $41,000. Finally, HHM Wealth Advisors LLC lifted its position in shares of Cardinal Health by 57.6% in the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after purchasing an additional 144 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 0.9 %

Shares of Cardinal Health stock opened at $127.50 on Thursday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $132.84. The firm has a market capitalization of $30.80 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 1.49 and a beta of 0.63. The firm’s 50 day simple moving average is $125.28 and its two-hundred day simple moving average is $118.57.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (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%. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS 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. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. Cardinal Health’s payout ratio is 37.69%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CAH shares. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Wells Fargo & Company upped their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Morgan Stanley upped their price target 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. Mizuho started coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target for the company. Finally, Citigroup upped their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Four 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $139.36.

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.