Good Life Advisors LLC reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,614 shares of the company's stock after selling 200 shares during the quarter. Good Life Advisors LLC's holdings in Cardinal Health were worth $308,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. CFS Investment Advisory Services LLC grew its stake in Cardinal Health by 6,455.0% during the first quarter. CFS Investment Advisory Services LLC now owns 1,513,493 shares of the company's stock worth $27,000 after buying an additional 1,490,404 shares during the period. LS Investment Advisors LLC purchased a new stake in Cardinal Health during the second quarter worth approximately $27,000. CX Institutional purchased a new stake in Cardinal Health during the second quarter worth approximately $33,000. Retirement Group LLC grew its stake in 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 buying an additional 431 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in 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 during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
Get Cardinal Health alerts:Cardinal Health Stock Performance
Shares of NYSE:CAH opened at $79.34 on Tuesday. The stock has a market capitalization of $20.80 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 1.32 and a beta of 0.81. Cardinal Health, Inc. has a 1-year low of $48.41 and a 1-year high of $81.57. The company's fifty day moving average is $76.38 and its two-hundred day moving average is $66.66.
Cardinal Health (NYSE:CAH – Get Rating) last issued its earnings results on Friday, November 4th. The company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.24. The company had revenue of $49.60 billion for the quarter, compared to analysts' expectations of $46.88 billion. Cardinal Health had a negative net margin of 0.59% and a negative return on equity of 252.82%. Sell-side analysts expect that Cardinal Health, Inc. will post 5.27 EPS for the current fiscal year.Cardinal Health Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Tuesday, January 3rd will be issued a $0.4957 dividend. The ex-dividend date is Friday, December 30th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.50%. Cardinal Health's dividend payout ratio (DPR) is presently 32.35%.
Insider Buying and Selling
In related news, insider Ola M. Snow sold 19,590 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $78.87, for a total value of $1,545,063.30. Following the sale, the insider now owns 31,187 shares of the company's stock, valued at approximately $2,459,718.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on CAH shares. Morgan Stanley upped their target price on shares of Cardinal Health from $76.00 to $82.00 and gave the company an "overweight" rating in a research note on Monday, November 7th. UBS Group upped their target price on shares of Cardinal Health from $61.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, August 29th. Bank Of America (Bofa) upgraded shares of Cardinal Health from an "underperform" rating to a "neutral" rating and upped their target price for the company from $64.00 to $80.00 in a research note on Friday, November 4th. Credit Suisse Group upped their target price on shares of Cardinal Health from $64.00 to $79.00 and gave the company a "neutral" rating in a research note on Tuesday, November 22nd. Finally, Bank of America upgraded shares of Cardinal Health from an "underperform" rating to a "neutral" rating and upped their target price for the company from $64.00 to $80.00 in a research note on Friday, November 4th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Cardinal Health presently has a consensus rating of "Hold" and a consensus price target of $76.45.
Cardinal Health Company Profile
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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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