Wedmont Private Capital Reduces Stake in Cardinal Health, Inc. (NYSE:CAH)

Wedmont Private Capital reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,697 shares of the company’s stock after selling 109 shares during the period. Wedmont Private Capital’s holdings in Cardinal Health were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CAH. Cultivar Capital Inc. bought a new position in Cardinal Health in the 2nd quarter worth $27,000. Raleigh Capital Management Inc. raised its holdings in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health in the 2nd quarter worth $29,000. LRI Investments LLC bought a new position in Cardinal Health in the 1st quarter worth $32,000. Finally, Palisade Asset Management LLC bought a new position in Cardinal Health in the 1st quarter worth $34,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,963 shares of company stock worth $12,379,980. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CAH. Argus raised their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. UBS Group raised their price target on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Morgan Stanley raised their price target on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Evercore ISI raised their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Finally, StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.36.

Cardinal Health Stock Down 1.2 %

Shares of Cardinal Health stock opened at $112.51 on Friday. The firm has a market cap of $27.40 billion, a price-to-earnings ratio of 50.00, a PEG ratio of 1.57 and a beta of 0.60. The business has a 50-day moving average price of $109.72 and a 200-day moving average price of $103.95. Cardinal Health, Inc. has a twelve month low of $90.19 and a twelve month high of $116.05.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 earnings per share. On average, equities analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.506 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 annualized dividend and a yield of 1.80%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Cardinal Health Company 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.