Addison Advisors LLC Buys New Stake in Cardinal Health, Inc. (NYSE:CAH)

Addison Advisors LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,541 shares of the company’s stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CAH. Mitsubishi UFJ Trust & Banking Corp increased its position in Cardinal Health by 101.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock worth $36,010,000 after purchasing an additional 161,656 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Cardinal Health by 5.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock valued at $35,160,000 after buying an additional 15,663 shares in the last quarter. Alpha Cubed Investments LLC bought a new position in shares of Cardinal Health in the 3rd quarter valued at about $371,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Cardinal Health by 1.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company’s stock worth $44,016,000 after acquiring an additional 6,752 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Cardinal Health by 38.7% during the first quarter. Bessemer Group Inc. now owns 19,190 shares of the company’s stock worth $2,148,000 after acquiring an additional 5,352 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the topic of several recent research reports. Citigroup decreased their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Morgan Stanley upped 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, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Robert W. Baird upped their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the completion of the transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the company’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 value of $1,905,566.08. Following the completion of the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.09% of the stock is owned by insiders.

Cardinal Health Stock Up 0.9 %

Shares of Cardinal Health stock opened at $121.64 on Tuesday. The company has a 50 day moving average price of $112.40 and a 200 day moving average price of $104.67. The firm has a market capitalization of $29.44 billion, a P/E ratio of 23.67, a PEG ratio of 1.50 and a beta of 0.60. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $123.18.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 EPS. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.66%. Cardinal Health’s dividend payout ratio is presently 39.30%.

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.