Park Avenue Securities LLC purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,513 shares of the company’s stock, valued at approximately $234,000.
Other hedge funds also recently modified their holdings of the company. LS Investment Advisors LLC acquired a new stake in shares of Cardinal Health during the second quarter worth about $27,000. CX Institutional acquired a new stake in shares of Cardinal Health during the second quarter worth about $33,000. Retirement Group LLC raised its position in shares of Cardinal Health by 100.0% during the second quarter. Retirement Group LLC now owns 862 shares of the company’s stock worth $45,000 after purchasing an additional 431 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Cardinal Health by 102.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 716 shares of the company’s stock worth $48,000 after buying an additional 363 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of Cardinal Health by 195.0% during the second quarter. FinTrust Capital Advisors LLC now owns 885 shares of the company’s stock worth $50,000 after buying an additional 585 shares in the last quarter. Institutional investors and hedge funds own 88.93% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on CAH shares. Mizuho increased their price objective on Cardinal Health from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, November 14th. Bank Of America (Bofa) upgraded Cardinal Health from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $64.00 to $80.00 in a report on Friday, November 4th. Bank of America upgraded Cardinal Health from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $64.00 to $80.00 in a report on Friday, November 4th. Credit Suisse Group increased their price objective on Cardinal Health from $64.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, November 22nd. Finally, Morgan Stanley raised their price target 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 given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.82.
Cardinal Health Trading Down 0.4 %
Cardinal Health (NYSE:CAH – Get Rating) last issued its earnings results on Friday, November 4th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.96 by $0.24. Cardinal Health had a negative return on equity of 252.82% and a negative net margin of 0.59%. The company had revenue of $49.60 billion during the quarter, compared to the consensus estimate of $46.88 billion. Analysts predict that Cardinal Health, Inc. will post 5.3 EPS for the current fiscal year.
Cardinal Health Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, January 15th. Stockholders of record on Tuesday, January 3rd were paid a dividend of $0.4957 per share. The ex-dividend date of this dividend was Friday, December 30th. This represents a $1.98 annualized dividend and a dividend yield of 2.63%. Cardinal Health’s dividend payout ratio is currently 32.35%.
Insider Transactions at Cardinal Health
In other news, insider Ola M. Snow sold 19,590 shares of Cardinal Health stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 31,187 shares in the company, valued at approximately $2,459,718.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.
Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.
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