Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 9.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,065 shares of the company’s stock after selling 1,909 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Cardinal Health were worth $2,021,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CAH. Clearstead Trust LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth $25,000. Raleigh Capital Management Inc. lifted its holdings in shares of Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth $30,000. Hexagon Capital Partners LLC lifted its holdings in Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Cardinal Health in the fourth quarter valued at $36,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Evercore ISI raised their target price on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 28th. Finally, SVB Leerink began coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Read Our Latest Research Report on Cardinal Health

Cardinal Health Trading Up 3.1 %

CAH traded up $3.14 during midday trading on Wednesday, hitting $104.09. The company’s stock had a trading volume of 2,797,755 shares, compared to its average volume of 1,819,009. The firm has a market cap of $25.35 billion, a P/E ratio of 46.26, a PEG ratio of 1.14 and a beta of 0.64. The firm has a 50-day moving average price of $100.56 and a two-hundred day moving average price of $104.74. Cardinal Health, Inc. has a 52-week low of $85.11 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.74 EPS. On average, equities analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.5056 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Monday, July 1st. Cardinal Health’s payout ratio is currently 88.89%.

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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