Redhawk Wealth Advisors Inc. Grows Position in Cardinal Health, Inc. (NYSE:CAH)

Redhawk Wealth Advisors Inc. increased its position in Cardinal Health, Inc. (NYSE:CAH) by 8.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,614 shares of the company’s stock after purchasing an additional 434 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Cardinal Health were worth $620,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cultivar Capital Inc. purchased a new position in shares of Cardinal Health in the second quarter valued at about $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health during the 2nd quarter valued at about $29,000. LRI Investments LLC bought a new position in Cardinal Health during the 1st quarter valued at approximately $32,000. Palisade Asset Management LLC bought a new stake in shares of Cardinal Health in the 1st quarter worth approximately $34,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of Cardinal Health in the 1st quarter worth approximately $40,000. 87.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares in the company, valued at approximately $21,546,276.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction on 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 owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jason M. Hollar sold 46,455 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is owned by corporate insiders.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $111.94 on Tuesday. The stock has a market cap of $27.26 billion, a price-to-earnings ratio of 49.75, a PEG ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $90.19 and a 1 year high of $116.05. The firm’s 50-day moving average is $110.00 and its 200 day moving average is $103.89.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.10. The company had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.55 earnings per share. On average, equities analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CAH shares. Wells Fargo & Company raised their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Finally, Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.36.

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.