Cardinal Health, Inc. (NYSE:CAH) Shares Bought by Assetmark Inc.

Assetmark Inc. boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 25.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,561 shares of the company’s stock after purchasing an additional 7,692 shares during the quarter. Assetmark Inc.’s holdings in Cardinal Health were worth $4,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eastern Bank acquired a new stake in Cardinal Health in the 3rd quarter worth about $25,000. Cultivar Capital Inc. purchased a new stake in Cardinal Health in the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $29,000. Hara Capital LLC purchased a new position in shares of Cardinal Health in the 3rd quarter worth $31,000. Finally, LRI Investments LLC acquired a new position in Cardinal Health in the first quarter valued at $32,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CAH. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Argus raised their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley increased their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Citigroup lowered their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, Robert W. Baird upped their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Insider Buying and Selling

In other Cardinal Health 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 value of $252,997.93. Following the sale, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction that occurred 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 26,716 shares of the firm’s stock in a transaction that occurred 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 approximately $26,574,187.17. This 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 have sold 113,963 shares of company stock valued at $12,379,980. Insiders own 0.09% of the company’s stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $123.52 on Wednesday. The firm’s 50-day simple moving average is $112.58 and its 200-day simple moving average is $104.81. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $125.41. The firm has a market cap of $29.89 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.50 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for 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 period in the prior year, the company posted $1.73 EPS. On average, equities analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

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.