Cardinal Health, Inc. (NYSE:CAH) Stock Position Decreased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 3.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 18,114 shares of the company’s stock after selling 580 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Cardinal Health were worth $2,002,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Eastern Bank acquired a new stake in Cardinal Health in the third quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health during the 2nd quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the 2nd quarter valued at $29,000. LRI Investments LLC bought a new stake in Cardinal Health in the first quarter worth $32,000. Finally, Palisade Asset Management LLC acquired a new position in Cardinal Health during the first quarter worth $34,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE:CAH opened at $110.89 on Friday. The firm’s 50-day moving average is $111.64 and its 200-day moving average is $104.06. The company has a market cap of $27.01 billion, a price-to-earnings ratio of 49.28, a PEG ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 52-week low of $90.19 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same quarter in the prior year, the firm posted $1.55 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.506 dividend. This represents a $2.02 annualized dividend and a yield of 1.83%. The ex-dividend date was Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 89.78%.

Insider Activity

In other news, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the sale, the chief executive officer now directly owns 244,091 shares in the company, valued at approximately $26,574,187.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Michelle D. Greene sold 4,000 shares of the firm’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 transaction, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. This trade represents a 0.00 % decrease in their ownership of the stock. 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 corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Argus boosted their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Wells Fargo & Company increased their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Robert W. Baird upped their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, Evercore ISI lifted their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.18.

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.