Frazier Financial Advisors LLC Boosts Stake in Cardinal Health, Inc. (NYSE:CAH)

Frazier Financial Advisors LLC raised its position in Cardinal Health, Inc. (NYSE:CAH) by 69.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 253 shares of the company’s stock after buying an additional 104 shares during the period. Frazier Financial Advisors LLC’s holdings in Cardinal Health were worth $28,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Paragon Capital Management Inc. increased its stake in shares of Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after purchasing an additional 99 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in shares of Cardinal Health by 5.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares during the last quarter. Midland Wealth Advisors LLC increased its stake in shares of Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Cardinal Health by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after purchasing an additional 100 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of Cardinal Health by 0.9% during the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on shares of 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 lifted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Argus lifted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Insider Transactions at Cardinal Health

In related news, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares in the company, valued at $21,546,276.72. This trade represents a 19.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction on 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. The trade was a 17.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,351 shares of company stock valued at $7,565,843. Insiders own 0.09% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $118.78 on Friday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.14. The company has a market capitalization of $28.75 billion, a P/E ratio of 23.11, a P/E/G ratio of 1.48 and a beta of 0.60. The company has a fifty day moving average of $113.14 and a 200-day moving average of $105.20.

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

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 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.