Kestra Advisory Services LLC lifted its holdings in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 59.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,164 shares of the company’s stock after acquiring an additional 12,422 shares during the period. Kestra Advisory Services LLC’s holdings in Cardinal Health were worth $2,211,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the business. Great West Life Assurance Co. Can bought a new stake in Cardinal Health in the 3rd quarter valued at about $53,478,000. Park Avenue Securities LLC acquired a new stake in Cardinal Health during the third quarter worth approximately $234,000. Assetmark Inc. grew its position in Cardinal Health by 6,173.9% during the third quarter. Assetmark Inc. now owns 12,485 shares of the company’s stock worth $832,000 after buying an additional 12,286 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Cardinal Health by 28.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 301,699 shares of the company’s stock worth $20,117,000 after purchasing an additional 66,508 shares during the period. Finally, Lester Murray Antman dba SimplyRich bought a new position in shares of Cardinal Health in the third quarter worth $246,000. 88.93% of the stock is owned by institutional investors.
Insider Activity at Cardinal Health
In related news, insider Ola M. Snow sold 19,590 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $78.87, for a total transaction of $1,545,063.30. Following the sale, the insider now owns 31,187 shares in the company, valued at approximately $2,459,718.69. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.
Cardinal Health Stock Up 0.5 %
Cardinal Health (NYSE:CAH – Get Rating) last issued its quarterly earnings results on Friday, November 4th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.24. The company had revenue of $49.60 billion during the quarter, compared to analysts’ expectations of $46.88 billion. Cardinal Health had a negative return on equity of 252.82% and a negative net margin of 0.59%. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 5.28 earnings per share for the current fiscal year.
Cardinal Health Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Sunday, January 15th. Investors of record on Tuesday, January 3rd were issued a $0.4957 dividend. The ex-dividend date of this dividend was Friday, December 30th. This represents a $1.98 annualized dividend and a yield of 2.62%. Cardinal Health’s payout ratio is 32.35%.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. Mizuho boosted their target price on shares of Cardinal Health from $66.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, November 14th. Credit Suisse Group upped their target price on Cardinal Health from $64.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 22nd. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 27th. Robert W. Baird raised their price objective on Cardinal Health from $74.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 7th. Finally, Morgan Stanley raised their price objective on Cardinal Health from $82.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, January 6th. Eight equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Hold” and an average price target of $76.82.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated 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.
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