Consolidated Planning Corp Buys 897 Shares of Cardinal Health, Inc. (NYSE:CAH)

Consolidated Planning Corp boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 16.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,374 shares of the company’s stock after purchasing an additional 897 shares during the quarter. Consolidated Planning Corp’s holdings in Cardinal Health were worth $704,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CAH. Point72 Asset Management L.P. bought a new stake in shares of Cardinal Health during the 2nd quarter worth $90,440,000. Acadian Asset Management LLC lifted its position in Cardinal Health by 19.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after acquiring an additional 598,002 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Cardinal Health during the first quarter valued at about $56,454,000. Jacobs Levy Equity Management Inc. grew its position in shares of Cardinal Health by 265.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock valued at $73,577,000 after purchasing an additional 477,682 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Cardinal Health in the first quarter valued at about $48,673,000. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CAH. JPMorgan Chase & Co. increased their target price on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Wells Fargo & Company increased their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Robert W. Baird raised their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Morgan Stanley increased 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, Barclays boosted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $118.22 on Friday. The company’s fifty day moving average is $112.07 and its 200-day moving average is $104.41. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $119.58. The company has a market capitalization of $28.61 billion, a PE ratio of 23.00, a P/E/G ratio of 1.39 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 earnings per share. On average, analysts forecast that Cardinal Health, Inc. will post 7.84 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.71%. Cardinal Health’s dividend payout ratio is 39.30%.

Insiders Place Their Bets

In related news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the business’s 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 completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s 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 directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.09% of the stock is currently owned by corporate insiders.

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.