Cardinal Health, Inc. $CAH Position Increased by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 58.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,470 shares of the company’s stock after buying an additional 9,369 shares during the quarter. Kestra Advisory Services LLC’s holdings in Cardinal Health were worth $5,667,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Cardinal Health in the 2nd quarter valued at $6,293,115,000. Wellington Management Group LLP lifted its stake in shares of Cardinal Health by 247.5% in the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after acquiring an additional 10,584,119 shares during the period. Bank of America Corp DE acquired a new stake in shares of Cardinal Health in the 2nd quarter worth $689,066,000. Legal & General Group Plc purchased a new stake in shares of Cardinal Health in the second quarter valued at about $438,870,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of Cardinal Health by 14.7% in the first quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock valued at $330,728,000 after acquiring an additional 200,021 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity

In other Cardinal Health news, CEO Jason Hollar sold 80,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the transaction, the chief executive officer owned 235,132 shares of the company’s stock, valued at $55,430,017.68. This trade represents a 25.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Deborah Weitzman sold 7,354 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the sale, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 210,271 shares of company stock valued at $49,626,657 in the last ninety days. 0.12% of the stock is owned by company insiders.

Cardinal Health Stock Up 0.2%

CAH opened at $277.97 on Friday. The firm has a market cap of $64.25 billion, a P/E ratio of 35.96, a PEG ratio of 2.13 and a beta of 0.53. The business’s fifty day simple moving average is $243.50 and its 200 day simple moving average is $224.91. Cardinal Health, Inc. has a 52 week low of $180.45 and a 52 week high of $286.29.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, November 5th. The company reported $3.26 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.32. The firm had revenue of $67.51 billion during the quarter, compared to the consensus estimate of $66.67 billion. Cardinal Health had a net margin of 0.71% and a negative return on equity of 102.72%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.55 EPS. As a group, equities analysts expect that Cardinal Health, Inc. will post 12.96 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be paid a dividend of $0.5158 per share. The ex-dividend date of this dividend is Monday, January 4th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.7%. Cardinal Health’s dividend payout ratio is currently 26.65%.

Analyst Ratings Changes

Several research firms have issued reports on CAH. Mizuho set a $290.00 target price on Cardinal Health in a research report on Thursday, November 5th. Wells Fargo & Company raised their price target on Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Citigroup lifted their price target on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Barclays upped their price objective on Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Finally, Royal Bank Of Canada upped their price objective on Cardinal Health from $276.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $279.44.

Cardinal Health Company Profile

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers. The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations. Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.