Carolina Wealth Advisors LLC Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Carolina Wealth Advisors LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 429 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds also recently bought and sold shares of CAH. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health in the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the 2nd quarter worth $29,000. LRI Investments LLC purchased a new position in shares of Cardinal Health during the 1st quarter worth $32,000. Palisade Asset Management LLC acquired a new position in shares of Cardinal Health during the 1st quarter valued at about $34,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of Cardinal Health in the first quarter valued at about $40,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Activity at Cardinal Health

In other news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jason M. Hollar sold 46,455 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the sale, the chief executive officer now owns 197,636 shares in the company, valued at approximately $21,546,276.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. 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 in the last ninety days. Insiders own 0.15% of the company’s stock.

Cardinal Health Price Performance

Shares of Cardinal Health stock traded down $0.07 during trading on Monday, hitting $112.34. 636,757 shares of the stock were exchanged, compared to its average volume of 2,079,601. The stock has a market cap of $27.36 billion, a price-to-earnings ratio of 49.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The firm’s 50-day moving average price is $111.00 and its 200 day moving average price is $103.96. Cardinal Health, Inc. has a 12-month low of $90.19 and a 12-month high of $116.05.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping 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 business 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 firm posted $1.55 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 89.78%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAH. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Wells Fargo & Company upped their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Robert W. Baird boosted their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $119.36.

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.