J. W. Coons Advisors LLC Sells 420 Shares of Cardinal Health, Inc. (NYSE:CAH)

J. W. Coons Advisors LLC lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 11.6% during the third quarter, Holdings Channel reports. The firm owned 3,200 shares of the company’s stock after selling 420 shares during the period. J. W. Coons Advisors LLC’s holdings in Cardinal Health were worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Eastern Bank acquired a new position in shares of Cardinal Health in the 3rd quarter valued at approximately $25,000. Frazier Financial Advisors LLC boosted its holdings in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health during the 2nd quarter worth $27,000. Hara Capital LLC bought a new position in Cardinal Health in the third quarter valued at about $31,000. Finally, LRI Investments LLC acquired a new position in Cardinal Health during the first quarter worth about $32,000. 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 the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Robert W. Baird increased their price target on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Argus upped their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $118.78 on Monday. The business’s 50-day moving average is $113.14 and its 200-day moving average is $105.22. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The company has a market capitalization of $28.75 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data 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 firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts anticipate 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 given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s payout ratio is presently 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.