Inscription Capital LLC Increases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Inscription Capital LLC lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,271 shares of the company’s stock after buying an additional 367 shares during the period. Inscription Capital LLC’s holdings in Cardinal Health were worth $804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. Eastern Bank bought a new stake in shares of Cardinal Health in the 3rd quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health in the 2nd quarter worth about $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Cardinal Health in the 2nd quarter valued at about $29,000. LRI Investments LLC bought a new position in shares of Cardinal Health in the first quarter worth $32,000. Finally, Palisade Asset Management LLC acquired a new position in shares of Cardinal Health during the first quarter valued at $34,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction that occurred on 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 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 document filed with the SEC, which is available at the SEC website. In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now directly owns 19,242 shares in the company, valued at approximately $2,094,491.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction that occurred on 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 sale, the insider now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 113,963 shares of company stock valued at $12,379,980. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CAH shares. JPMorgan Chase & Co. raised 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. Citigroup dropped their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Morgan Stanley increased their price target on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.18.

Cardinal Health Trading Down 0.1 %

Cardinal Health stock traded down $0.10 during mid-day trading on Monday, hitting $110.79. 52,913 shares of the company’s stock were exchanged, compared to its average volume of 2,054,956. The stock has a 50 day moving average of $111.64 and a two-hundred day moving average of $104.00. Cardinal Health, Inc. has a 1-year low of $90.19 and a 1-year high of $116.05. The stock has a market cap of $26.98 billion, a P/E ratio of 49.28, a P/E/G ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data 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. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The company had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same period in the prior year, the business earned $1.55 earnings per share. Cardinal Health’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.83%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, October 1st. Cardinal Health’s payout ratio is presently 89.78%.

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.