9,369 Cardinal Health, Inc. $CAH Shares Purchased by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 58.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 25,470 shares of the company’s stock after acquiring an additional 9,369 shares during the period. Kestra Advisory Services LLC’s holdings in Cardinal Health were worth $5,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. REAP Financial Group LLC lifted its holdings in Cardinal Health by 12.1% during the 3rd quarter. REAP Financial Group LLC now owns 724 shares of the company’s stock worth $161,000 after buying an additional 78 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Cardinal Health by 0.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 125,836 shares of the company’s stock worth $27,998,000 after buying an additional 1,125 shares during the last quarter. Collaborative Fund Advisors LLC boosted its holdings in shares of Cardinal Health by 76.6% in the 3rd quarter. Collaborative Fund Advisors LLC now owns 2,796 shares of the company’s stock valued at $622,000 after buying an additional 1,213 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of Cardinal Health by 26.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,868 shares of the company’s stock valued at $466,000 after buying an additional 389 shares during the last quarter. Finally, Rakuten Investment Management Inc. raised its stake in Cardinal Health by 9.1% during the third quarter. Rakuten Investment Management Inc. now owns 41,851 shares of the company’s stock worth $9,371,000 after acquiring an additional 3,480 shares during the period. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Cardinal Health from $260.00 to $286.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley lifted their price objective on shares of Cardinal Health from $265.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Evercore restated an “outperform” rating and issued a $270.00 price target on shares of Cardinal Health in a research note on Wednesday, August 12th. Weiss Ratings raised Cardinal Health from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Finally, UBS Group lifted their target price on Cardinal Health from $280.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $279.44.

Insider Activity at Cardinal Health

In other news, insider Michelle Greene sold 11,650 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total value of $2,746,138.00. Following the transaction, the insider directly owned 10,330 shares of the company’s stock, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Deborah Weitzman sold 7,354 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the transaction, the chief executive officer owned 77,901 shares in the company, valued at $18,341,790.45. This trade represents a 8.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by company insiders.

Cardinal Health Trading Up 0.2%

CAH stock opened at $277.97 on Friday. Cardinal Health, Inc. has a one year low of $180.45 and a one year high of $286.29. The firm has a 50-day moving average of $243.50 and a two-hundred day moving average of $224.91. The firm has a market capitalization of $64.25 billion, a PE ratio of 35.96, a P/E/G ratio of 2.13 and a beta of 0.53.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, November 5th. The company reported $3.26 EPS for the quarter, beating the consensus estimate of $2.94 by $0.32. Cardinal Health had a net margin of 0.71% and a negative return on equity of 102.72%. The business had revenue of $67.51 billion during the quarter, compared to the consensus estimate of $66.67 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 12.96 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be given a dividend of $0.5158 per share. The ex-dividend date of this dividend is Monday, January 4th. This represents a $2.06 dividend on an annualized basis and a yield of 0.7%. Cardinal Health’s payout ratio is presently 26.65%.

Cardinal Health Profile

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers. The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations. Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.