Sigma Planning Corp Grows Position in Cardinal Health, Inc. (NYSE:CAH)

Sigma Planning Corp raised its position in Cardinal Health, Inc. (NYSE:CAH) by 20.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,431 shares of the company’s stock after purchasing an additional 1,924 shares during the quarter. Sigma Planning Corp’s holdings in Cardinal Health were worth $1,263,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Paragon Capital Management Inc. raised its holdings in shares of Cardinal Health by 0.7% in the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after purchasing an additional 99 shares during the period. Midland Wealth Advisors LLC raised its holdings in shares of Cardinal Health by 4.2% in the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the period. Aptus Capital Advisors LLC raised its holdings in shares of Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Cardinal Health by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after buying an additional 100 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of Cardinal Health by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock valued at $1,125,000 after buying an additional 103 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related 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 value of $252,997.93. Following the completion of the sale, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated Thursday, August 15th. The stock was 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 of the company’s stock, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 over the last three months. Insiders own 0.09% of the company’s stock.

Cardinal Health Trading Up 1.5 %

Shares of Cardinal Health stock opened at $123.52 on Wednesday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $125.41. The company’s 50-day moving average price is $112.58 and its two-hundred day moving average price is $104.81. The stock 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 announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the prior year, the business posted $1.73 earnings per share. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. On average, equities analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal 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 is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is 39.30%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Argus raised their target price on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. raised their target price on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Morgan Stanley raised their target price on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Mizuho lifted their target price on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.00.

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.