Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 9.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,951 shares of the company’s stock after selling 319 shares during the period. Apollon Wealth Management LLC’s holdings in Cardinal Health were worth $326,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Paragon Capital Management Inc. grew its stake in shares of Cardinal Health by 0.7% in the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after acquiring an additional 99 shares in the last quarter. Midland Wealth Advisors LLC lifted its position 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. Aptus Capital Advisors LLC lifted its position 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. Oregon Public Employees Retirement Fund lifted its position 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, Blair William & Co. IL lifted its position in shares of Cardinal Health by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock worth $1,125,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Mizuho lifted their price objective on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Wells Fargo & Company boosted their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Stock Down 2.1 %

NYSE:CAH opened at $118.78 on Monday. The company has a market cap 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. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.14. The firm’s 50 day moving average is $113.14 and its two-hundred day moving average is $105.22.

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

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 yield of 1.70%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Insider Activity at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 17.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Cardinal Health 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.