Buckley Wealth Management LLC Grows Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Buckley Wealth Management LLC increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,392 shares of the company’s stock after purchasing an additional 405 shares during the period. Buckley Wealth Management LLC’s holdings in Cardinal Health were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raymond James & Associates grew its stake in shares of Cardinal Health by 7.4% during the 3rd quarter. Raymond James & Associates now owns 309,960 shares of the company’s stock worth $34,257,000 after purchasing an additional 21,414 shares during the period. Blue Trust Inc. increased its holdings in Cardinal Health by 61.9% in the third quarter. Blue Trust Inc. now owns 5,503 shares of the company’s stock valued at $608,000 after buying an additional 2,103 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Cardinal Health by 8.9% in the third quarter. Aaron Wealth Advisors LLC now owns 10,539 shares of the company’s stock worth $1,165,000 after acquiring an additional 859 shares during the period. Stonegate Investment Group LLC grew its position in shares of Cardinal Health by 79.4% during the 3rd quarter. Stonegate Investment Group LLC now owns 3,883 shares of the company’s stock valued at $429,000 after acquiring an additional 1,718 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in shares of Cardinal Health by 8.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,361 shares of the company’s stock valued at $371,000 after purchasing an additional 253 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Up 0.4 %

Shares of CAH traded up $0.48 during midday trading on Friday, reaching $112.41. The company had a trading volume of 1,369,588 shares, compared to its average volume of 2,086,768. Cardinal Health, Inc. has a 1-year low of $90.19 and a 1-year high of $116.05. The firm has a 50 day simple moving average of $111.00 and a 200-day simple moving average of $103.96. The stock has a market cap of $27.38 billion, a PE ratio of 49.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.10. The firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. Cardinal Health’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $1.55 earnings per share. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.506 dividend. This represents a $2.02 annualized dividend and a yield of 1.80%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, October 1st. Cardinal Health’s dividend payout ratio is presently 89.78%.

Analysts Set New Price Targets

A number of analysts have recently commented on CAH shares. Argus boosted their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Citigroup dropped their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Wells Fargo & Company raised their price target 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. Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their target price on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $119.36.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on 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 transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction on Monday, August 19th. The stock was 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 over the last quarter. 0.15% of the stock is currently owned by company insiders.

Cardinal Health Company Profile

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.