Cardinal Health, Inc. (NYSE:CAH) Stock Holdings Reduced by Sheets Smith Wealth Management

Sheets Smith Wealth Management cut its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,145 shares of the company’s stock after selling 245 shares during the period. Sheets Smith Wealth Management’s holdings in Cardinal Health were worth $458,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CAH. Atria Investments Inc raised its position in Cardinal Health by 7.5% during the third quarter. Atria Investments Inc now owns 12,810 shares of the company’s stock valued at $1,416,000 after acquiring an additional 899 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Cardinal Health by 25.8% in the 3rd quarter. Assetmark Inc. now owns 37,561 shares of the company’s stock valued at $4,151,000 after purchasing an additional 7,692 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Cardinal Health in the third quarter worth $12,954,000. Fiera Capital Corp acquired a new position in Cardinal Health during the third quarter worth $507,000. Finally, Philip James Wealth Mangement LLC acquired a new stake in shares of Cardinal Health in the third quarter worth about $1,763,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. UBS Group raised their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Argus raised their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Wells Fargo & Company raised their target price on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.00.

Insider Activity

In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.85, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Michelle D. Greene sold 4,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the transaction, the insider now directly owns 19,242 shares in the company, valued at $2,094,491.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock valued at $12,379,980 over the last three months. 0.09% of the stock is owned by insiders.

Cardinal Health Stock Up 2.0 %

NYSE:CAH opened at $120.56 on Monday. The firm has a 50-day moving average price of $112.22 and a 200 day moving average price of $104.54. The firm has a market capitalization of $29.18 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.44 and a beta of 0.60. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $121.79.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate 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 business had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the previous year, the firm earned $1.73 EPS. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts expect that Cardinal Health, Inc. will post 7.83 EPS for the current 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 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

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.