Cardinal Health (NYSE:CAH) Sees Strong Trading Volume

Cardinal Health, Inc. (NYSE:CAH) shares saw unusually-strong trading volume on Tuesday . Approximately 886,120 shares were traded during trading, a decline of 58% from the previous session’s volume of 2,097,834 shares.The stock last traded at $109.86 and had previously closed at $111.84.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CAH. Argus lifted their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company lifted their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Morgan Stanley lifted their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Cardinal Health Price Performance

The business’s 50 day moving average price is $105.98 and its 200-day moving average price is $103.99. The company has a market cap of $26.90 billion, a P/E ratio of 49.72, a PEG ratio of 1.55 and a beta of 0.60.

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

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.506 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.83%. Cardinal Health’s payout ratio is presently 89.78%.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the company’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 completion of the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the company’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 completion of the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the sale, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,963 shares of company stock worth $12,379,980. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. J. W. Coons Advisors LLC grew its holdings in shares of Cardinal Health by 0.6% in the 4th quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock valued at $1,681,000 after buying an additional 100 shares during the period. Edmonds Duncan Registered Investment Advisors LLC grew its holdings in shares of Cardinal Health by 5.0% in the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after buying an additional 100 shares during the period. Midland Wealth Advisors LLC grew its holdings in shares of Cardinal Health by 4.2% in the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after buying an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Cardinal Health by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

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.