Ashton Thomas Private Wealth LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Ashton Thomas Private Wealth LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 290 shares of the company’s stock, valued at approximately $29,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Cardinal Health in the 4th quarter valued at $258,499,000. Acadian Asset Management LLC increased its holdings in shares of Cardinal Health by 19.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after acquiring an additional 598,002 shares during the period. Jupiter Asset Management Ltd. purchased a new position in shares of Cardinal Health in the 1st quarter valued at $56,454,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Cardinal Health by 265.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock valued at $73,577,000 after acquiring an additional 477,682 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Cardinal Health by 1,941.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock valued at $46,183,000 after acquiring an additional 435,722 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Evercore ISI raised their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Morgan Stanley lifted their price target on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Trading Up 0.1 %

NYSE:CAH opened at $113.28 on Tuesday. The firm has a 50-day moving average price of $104.31 and a two-hundred day moving average price of $104.03. Cardinal Health, Inc. has a twelve month low of $85.82 and a twelve month high of $116.05. The company has a market capitalization of $27.59 billion, a P/E ratio of 50.35, a price-to-earnings-growth ratio of 1.55 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 earnings per share. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.506 dividend. The ex-dividend date is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.79%. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the sale, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

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.