HF Advisory Group LLC Increases Stock Position in Cardinal Health, Inc. (NYSE:CAH)

HF Advisory Group LLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,597 shares of the company’s stock after buying an additional 663 shares during the quarter. HF Advisory Group LLC’s holdings in Cardinal Health were worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Paragon Capital Management Inc. increased its holdings in Cardinal Health by 0.7% in the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after purchasing an additional 99 shares in the last quarter. Midland Wealth Advisors LLC raised its holdings in shares of Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the period. Aptus Capital Advisors LLC grew its position in Cardinal Health by 5.1% in the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Cardinal Health by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after purchasing an additional 100 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in Cardinal Health by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock valued at $1,125,000 after acquiring an additional 103 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on CAH. Robert W. Baird lifted their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Citigroup reduced their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Mizuho raised their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday. Morgan Stanley lifted their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Price Performance

Shares of CAH opened at $113.18 on Wednesday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $119.13. The stock has a market capitalization of $27.39 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.57 and a beta of 0.60. The firm’s 50 day moving average is $111.79 and its 200-day moving average is $104.20.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.69 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.79%. Cardinal Health’s payout ratio is currently 39.30%.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the sale, the chief financial officer now owns 36,867 shares in the company, valued at $4,015,184.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 over the last quarter. Company insiders own 0.09% of the company’s stock.

About Cardinal Health

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.