Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 7.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,735 shares of the company’s stock after buying an additional 643 shares during the period. Resonant Capital Advisors LLC’s holdings in Cardinal Health were worth $859,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CAH. Fisher Asset Management LLC raised its stake in shares of Cardinal Health by 40.1% in the 4th quarter. Fisher Asset Management LLC now owns 4,218 shares of the company’s stock valued at $425,000 after acquiring an additional 1,208 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Cardinal Health by 223.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,778 shares of the company’s stock valued at $482,000 after acquiring an additional 3,302 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new stake in Cardinal Health during the 4th quarter worth $441,000. Apollon Wealth Management LLC increased its stake in Cardinal Health by 34.0% during the 4th quarter. Apollon Wealth Management LLC now owns 4,074 shares of the company’s stock worth $411,000 after buying an additional 1,034 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Cardinal Health during the 4th quarter worth $1,207,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.5 %

Cardinal Health stock opened at $112.72 on Tuesday. The firm has a 50-day moving average price of $101.30 and a two-hundred day moving average price of $103.66. The firm has a market capitalization of $27.45 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 1.54 and a beta of 0.61. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. During the same period in the previous year, the firm earned $1.55 EPS. Cardinal Health’s revenue was up 12.1% on a year-over-year basis. Research analysts expect that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.80%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s payout ratio is 89.78%.

Insiders Place Their Bets

In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the sale, the insider now directly owns 19,242 shares in the company, valued at approximately $2,094,491.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the completion of the sale, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CAH. UBS Group lifted their price target on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Morgan Stanley boosted their target price on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Robert W. Baird boosted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.45.

Cardinal Health 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.