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

L2 Asset Management LLC boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 29.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,913 shares of the company’s stock after purchasing 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 filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Latitude Advisors LLC grew its position in shares of Cardinal Health by 2.1% during the 3rd quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock worth $408,000 after buying an additional 53 shares during the period. WESPAC Advisors LLC lifted its holdings in Cardinal Health by 1.0% in the third quarter. WESPAC Advisors LLC now owns 6,644 shares of the company’s stock valued at $1,043,000 after buying an additional 63 shares during the period. Kathmere Capital Management LLC lifted its holdings in Cardinal Health by 1.6% in the third quarter. Kathmere Capital Management LLC now owns 4,091 shares of the company’s stock valued at $642,000 after buying an additional 65 shares during the period. Regal Investment Advisors LLC boosted its stake in Cardinal Health by 2.1% in the third quarter. Regal Investment Advisors LLC now owns 3,109 shares of the company’s stock valued at $488,000 after acquiring an additional 65 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in Cardinal Health by 55.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 71 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Up 0.3%

Shares of NYSE CAH opened at $217.65 on Tuesday. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $233.60. The stock has a market cap of $51.22 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 1.40 and a beta of 0.65. The company’s fifty day moving average is $217.07 and its 200-day moving average is $192.98.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion during the quarter, compared to analysts’ expectations of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 EPS. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAH. Robert W. Baird set a $252.00 target price on shares of Cardinal Health in a research report on Friday, February 6th. Jefferies Financial Group raised their price target on Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Wells Fargo & Company lifted their price objective on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Morgan Stanley set a $255.00 price objective on Cardinal Health in a report on Friday, February 6th. Finally, Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $245.67.

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.