Wedbush Securities Inc. Purchases New Position in Cardinal Health, Inc. (NYSE:CAH)

Wedbush Securities Inc. purchased a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,650 shares of the company's stock, valued at approximately $550,000.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cardinal Health by 35.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company's stock worth $3,871,000 after buying an additional 8,471 shares during the period. CHURCHILL MANAGEMENT Corp grew its holdings in Cardinal Health by 1.5% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company's stock worth $28,435,000 after acquiring an additional 3,576 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock valued at $633,298,000 after acquiring an additional 42,082 shares during the period. Consolidated Planning Corp raised its stake in shares of Cardinal Health by 40.0% during the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company's stock valued at $1,056,000 after acquiring an additional 2,552 shares during the last quarter. Finally, Flputnam Investment Management Co. boosted its holdings in shares of Cardinal Health by 1.8% during the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company's stock worth $21,358,000 after purchasing an additional 3,148 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target for the company in a research report on Tuesday, January 7th. Bank of America raised their price target on Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Friday. TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their price objective for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their price target for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Finally, Mizuho lifted their price objective on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.86.

Cardinal Health Price Performance

CAH stock traded up $1.86 during trading on Monday, hitting $133.63. 262,443 shares of the stock traded hands, compared to its average volume of 2,525,053. The stock has a market cap of $32.28 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $139.50. The firm's 50 day moving average is $129.33 and its two-hundred day moving average is $122.48.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating 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%. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company 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 is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.51%. 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.