Cardinal Health, Inc. (NYSE:CAH) Position Lifted by Stonegate Investment Group LLC

Stonegate Investment Group LLC raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 79.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,883 shares of the company’s stock after purchasing an additional 1,718 shares during the period. Stonegate Investment Group LLC’s holdings in Cardinal Health were worth $429,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cultivar Capital Inc. bought a new stake in Cardinal Health in the second quarter valued at about $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $29,000. LRI Investments LLC bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $32,000. Palisade Asset Management LLC acquired a new stake in shares of Cardinal Health during the 1st quarter valued at approximately $34,000. Finally, New Covenant Trust Company N.A. bought a new position in Cardinal Health during the first quarter worth $40,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CAH. UBS Group increased their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Thursday. Evercore ISI upped their target price on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Citigroup cut their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Finally, Wells Fargo & Company upped their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.36.

Insider Activity

In related news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is owned by company insiders.

Cardinal Health Stock Performance

NYSE:CAH opened at $112.41 on Friday. The stock has a market cap of $27.38 billion, a price-to-earnings ratio of 49.96, 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 business has a fifty day moving average of $111.00 and a 200-day moving average of $104.01.

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

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.506 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

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.