381,457 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 381,457 shares of the company's stock, valued at approximately $45,115,000. Raymond James Financial Inc. owned approximately 0.16% of Cardinal Health at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Promus Capital LLC purchased a new stake in shares of Cardinal Health in the fourth quarter valued at about $30,000. Arizona State Retirement System raised its position in shares of Cardinal Health by 0.7% in the fourth quarter. Arizona State Retirement System now owns 70,278 shares of the company's stock valued at $8,312,000 after buying an additional 496 shares during the last quarter. Aigen Investment Management LP acquired a new position in Cardinal Health during the fourth quarter worth approximately $2,863,000. Proficio Capital Partners LLC acquired a new position in Cardinal Health during the fourth quarter worth approximately $14,995,000. Finally, M&T Bank Corp increased its position in Cardinal Health by 1.3% during the fourth quarter. M&T Bank Corp now owns 28,684 shares of the company's stock worth $3,393,000 after purchasing an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

CAH has been the subject of several recent research reports. Evercore ISI raised shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Wells Fargo & Company increased their price objective 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 increased their price objective 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. Finally, Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $139.00 price objective for the company. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and an average target price of $139.36.

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Cardinal Health Trading Up 0.3 %

CAH opened at $124.25 on Wednesday. The company has a fifty day simple moving average of $125.82 and a 200 day simple moving average of $119.08. The firm has a market cap of $30.01 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $132.84.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate 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, analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business 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 dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, April 1st. Cardinal Health's dividend payout ratio is currently 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.

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