Concurrent Investment Advisors LLC Sells 398 Shares of Cardinal Health, Inc. (NYSE:CAH)

Concurrent Investment Advisors LLC decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,475 shares of the company’s stock after selling 398 shares during the period. Concurrent Investment Advisors LLC’s holdings in Cardinal Health were worth $1,158,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CAH. Eastern Bank bought a new stake in Cardinal Health in the 3rd quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health in the 2nd quarter valued at $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cardinal Health in the 2nd quarter valued at $29,000. LRI Investments LLC bought a new position in shares of Cardinal Health during the 1st quarter valued at $32,000. Finally, New Covenant Trust Company N.A. purchased a new position in Cardinal Health in the 1st quarter worth $40,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $120.55 on Friday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $121.79. The company’s 50-day moving average is $112.22 and its 200 day moving average is $104.53. The stock has a market capitalization of $29.17 billion, a P/E ratio of 23.45, a P/E/G ratio of 1.39 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 EPS. Research analysts anticipate that Cardinal Health, Inc. will post 7.84 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 39.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CAH. Citigroup reduced their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Barclays upped their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company raised their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a 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 $123.00.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $5,064,524.10. Following the completion of the sale, the chief executive officer now directly owns 197,636 shares in the company, valued at approximately $21,546,276.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock valued at $12,379,980 in the last three months. 0.09% of the stock is currently owned by company insiders.

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.