16,518 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, HoldingsChannel reports. The firm purchased 16,518 shares of the company’s stock, valued at approximately $1,826,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CAH. Swiss National Bank lifted its stake in Cardinal Health by 0.4% during the third quarter. Swiss National Bank now owns 722,800 shares of the company’s stock valued at $79,884,000 after purchasing an additional 2,700 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Cardinal Health by 23.9% in the third quarter. Thrivent Financial for Lutherans now owns 12,727 shares of the company’s stock valued at $1,406,000 after buying an additional 2,451 shares in the last quarter. AM Squared Ltd acquired a new stake in shares of Cardinal Health during the 3rd quarter valued at $33,000. Gladius Capital Management LP boosted its stake in shares of Cardinal Health by 23.0% during the 3rd quarter. Gladius Capital Management LP now owns 10,013 shares of the company’s stock worth $1,107,000 after acquiring an additional 1,873 shares in the last quarter. Finally, Frazier Financial Advisors LLC grew its holdings in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 transaction, the insider now owns 75,971 shares in the company, 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 can be accessed through this link. Insiders own 0.09% of the company’s stock.

Cardinal Health Trading Down 2.1 %

Shares of NYSE:CAH opened at $118.78 on Monday. The firm has a market cap of $28.75 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 1.48 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The business has a fifty day simple moving average of $113.14 and a 200 day simple moving average of $105.22.

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

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Morgan Stanley raised their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. 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 report on Thursday, August 15th. Barclays raised their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, UBS Group boosted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

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.