EverSource Wealth Advisors LLC Boosts Stock Position in Cardinal Health, Inc. (NYSE:CAH)

EverSource Wealth Advisors LLC increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 46.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,443 shares of the company’s stock after purchasing an additional 778 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Cardinal Health were worth $246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cultivar Capital Inc. purchased a new position in shares of Cardinal Health during the 2nd quarter valued at $27,000. Raleigh Capital Management Inc. grew its position in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in Cardinal Health in the 1st quarter worth about $32,000. LRI Investments LLC purchased a new stake in shares of Cardinal Health in the 1st quarter valued at about $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health during the 2nd quarter valued at about $29,000. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CAH shares. Argus boosted their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. UBS Group upped their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Evercore ISI upped 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, Wells Fargo & Company raised their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $119.36.

Insiders Place Their Bets

In other news, CEO Jason M. Hollar sold 46,455 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jason M. Hollar sold 46,455 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares in the company, valued at $21,546,276.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason M. Hollar sold 26,716 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at $26,574,187.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is currently owned by company insiders.

Cardinal Health Stock Performance

NYSE:CAH opened at $108.82 on Thursday. Cardinal Health, Inc. has a fifty-two week low of $85.82 and a fifty-two week high of $116.05. The firm has a market cap of $26.50 billion, a PE ratio of 48.36, a price-to-earnings-growth ratio of 1.33 and a beta of 0.60. The business has a 50 day moving average price of $106.53 and a 200-day moving average price of $103.99.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. Research analysts predict that Cardinal Health, Inc. will post 7.62 EPS for the current year.

Cardinal Health Increases Dividend

The firm 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 is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.86%. Cardinal Health’s dividend payout ratio is presently 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.