290 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC acquired a new position in Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 290 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors have also bought and sold shares of CAH. Norges Bank acquired a new stake in Cardinal Health in the 4th quarter valued at about $258,499,000. Acadian Asset Management LLC lifted its holdings in Cardinal Health by 19.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after acquiring an additional 598,002 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Cardinal Health in the 1st quarter valued at about $56,454,000. Jacobs Levy Equity Management Inc. lifted its holdings in Cardinal Health by 265.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock valued at $73,577,000 after acquiring an additional 477,682 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in Cardinal Health by 1,941.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock valued at $46,183,000 after acquiring an additional 435,722 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $113.28 on Tuesday. Cardinal Health, Inc. has a fifty-two week low of $85.82 and a fifty-two week high of $116.05. The company has a market cap of $27.59 billion, a price-to-earnings ratio of 50.35, a price-to-earnings-growth ratio of 1.55 and a beta of 0.60. The firm has a 50 day simple moving average of $104.31 and a 200 day simple moving average of $104.03.

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

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Insider Buying and Selling

In related news, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the sale, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the transaction, the chief financial officer now owns 36,867 shares in the company, valued at approximately $4,015,184.97. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CAH shares. UBS Group upped their price target on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Evercore ISI boosted their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Finally, Argus boosted their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.36.

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.