Park Avenue Securities LLC Purchases Shares of 3,513 Cardinal Health, Inc. (NYSE:CAH)

Park Avenue Securities LLC purchased a new stake in Cardinal Health, Inc. (NYSE:CAHGet Rating) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,513 shares of the company’s stock, valued at approximately $234,000.

Other large investors have also recently bought and sold shares of the company. LS Investment Advisors LLC bought a new stake in Cardinal Health in the second quarter valued at $27,000. CX Institutional bought a new stake in Cardinal Health in the second quarter valued at $33,000. Retirement Group LLC grew its position in Cardinal Health by 100.0% in the second quarter. Retirement Group LLC now owns 862 shares of the company’s stock valued at $45,000 after acquiring an additional 431 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Cardinal Health by 102.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 716 shares of the company’s stock worth $48,000 after purchasing an additional 363 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of Cardinal Health by 195.0% during the second quarter. FinTrust Capital Advisors LLC now owns 885 shares of the company’s stock worth $50,000 after purchasing an additional 585 shares during the last quarter. 88.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on CAH shares. Bank Of America (Bofa) upgraded Cardinal Health from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $64.00 to $80.00 in a report on Friday, November 4th. Morgan Stanley increased their target price on Cardinal Health from $82.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. Robert W. Baird increased their target price on Cardinal Health from $74.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 7th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 27th. Finally, Bank of America upgraded Cardinal Health from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $64.00 to $80.00 in a report on Friday, November 4th. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health has a consensus rating of “Hold” and a consensus target price of $76.82.

Cardinal Health Stock Down 0.4 %

Shares of CAH opened at $75.48 on Tuesday. Cardinal Health, Inc. has a 12-month low of $49.09 and a 12-month high of $81.57. The firm has a market capitalization of $19.79 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.22 and a beta of 0.81. The stock’s fifty day simple moving average is $78.10 and its 200-day simple moving average is $71.06.

Cardinal Health (NYSE:CAHGet Rating) last released its earnings results on Friday, November 4th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.24. Cardinal Health had a negative return on equity of 252.82% and a negative net margin of 0.59%. The firm had revenue of $49.60 billion for the quarter, compared to analyst estimates of $46.88 billion. Analysts anticipate that Cardinal Health, Inc. will post 5.3 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Tuesday, January 3rd were paid a $0.4957 dividend. This represents a $1.98 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Friday, December 30th. Cardinal Health’s payout ratio is 32.35%.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Ola M. Snow sold 19,590 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $78.87, for a total value of $1,545,063.30. Following the transaction, the insider now owns 31,187 shares of the company’s stock, valued at $2,459,718.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

Cardinal Health Profile

(Get Rating)

Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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