L2 Asset Management LLC Has $6.11 Million Stake in Cardinal Health, Inc. $CAH

L2 Asset Management LLC increased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 29.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,913 shares of the company’s stock after buying an additional 8,825 shares during the quarter. L2 Asset Management LLC’s holdings in Cardinal Health were worth $6,108,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CAH. Lido Advisors LLC grew its stake in shares of Cardinal Health by 41.2% during the 3rd quarter. Lido Advisors LLC now owns 55,849 shares of the company’s stock worth $8,766,000 after acquiring an additional 16,304 shares in the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Cardinal Health in the third quarter worth $1,256,000. Iron Triangle Partners LP boosted its holdings in Cardinal Health by 31.1% during the third quarter. Iron Triangle Partners LP now owns 138,011 shares of the company’s stock worth $21,662,000 after purchasing an additional 32,754 shares during the last quarter. JPL Wealth Management LLC bought a new position in Cardinal Health in the third quarter valued at $31,000. Finally, Holocene Advisors LP grew its position in Cardinal Health by 141.4% in the third quarter. Holocene Advisors LP now owns 1,926,170 shares of the company’s stock valued at $302,332,000 after purchasing an additional 1,128,358 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CAH shares. TD Cowen boosted their price target on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Mizuho lifted their target price on Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. upped their target price on Cardinal Health from $209.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft increased their price target on Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a research report on Tuesday, November 18th. Finally, Evercore raised their price target on Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $245.67.

Cardinal Health Price Performance

Cardinal Health stock opened at $217.65 on Tuesday. The company’s 50-day moving average is $217.07 and its 200-day moving average is $192.98. The firm has a market capitalization of $51.22 billion, a PE ratio of 31.32, a P/E/G ratio of 1.40 and a beta of 0.65. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $233.60.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. During the same period last year, the business posted $1.93 EPS. Cardinal Health’s revenue was up 18.8% on a year-over-year basis. As a group, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 29.35%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.