Cornerstone Planning Group LLC Buys New Stake in Cardinal Health, Inc. (NYSE:CAH)

Cornerstone Planning Group LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAHFree Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 300 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds have also recently modified their holdings of the business. State Street Corp lifted its position in shares of Cardinal Health by 2.1% in the 1st quarter. State Street Corp now owns 21,802,799 shares of the company’s stock worth $1,246,751,000 after purchasing an additional 457,777 shares during the period. Invesco Ltd. raised its stake in shares of Cardinal Health by 9.0% during the 1st quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock worth $350,748,000 after acquiring an additional 511,826 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cardinal Health by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 5,428,438 shares of the company’s stock worth $512,027,000 after acquiring an additional 31,450 shares in the last quarter. Morgan Stanley raised its stake in shares of Cardinal Health by 3.6% during the 4th quarter. Morgan Stanley now owns 4,594,184 shares of the company’s stock worth $353,155,000 after acquiring an additional 161,667 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Cardinal Health by 75.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,548,693 shares of the company’s stock worth $335,559,000 after acquiring an additional 1,525,324 shares in the last quarter. Hedge funds and other institutional investors own 86.01% of the company’s stock.

Insider Transactions at Cardinal Health

In other news, CEO Deborah Weitzman sold 36,642 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $106.31, for a total value of $3,895,411.02. Following the transaction, the chief executive officer now directly owns 35,202 shares of the company’s stock, valued at $3,742,324.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAH. TheStreet lowered shares of Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $101.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, November 17th. UBS Group increased their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday. Evercore ISI cut their price objective on shares of Cardinal Health from $100.00 to $95.00 in a research note on Wednesday, October 11th. Finally, Barclays began coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Hold” and an average target price of $101.38.

Check Out Our Latest Research Report on Cardinal Health

Cardinal Health Stock Up 2.1 %

CAH opened at $105.76 on Tuesday. The firm’s fifty day simple moving average is $104.55 and its two-hundred day simple moving average is $96.87. The company has a market cap of $25.72 billion, a price-to-earnings ratio of 40.80, a PEG ratio of 0.92 and a beta of 0.69. Cardinal Health, Inc. has a 52-week low of $68.53 and a 52-week high of $111.40.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. The firm had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $1.32 earnings per share. On average, research analysts forecast that Cardinal Health, Inc. will post 7.31 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd were paid a $0.5006 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Friday, December 29th. Cardinal Health’s dividend payout ratio is currently 78.74%.

About Cardinal Health

(Free Report)

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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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