Good Life Advisors LLC Raises Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Good Life Advisors LLC increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 96.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,100 shares of the company’s stock after purchasing an additional 2,987 shares during the period. Good Life Advisors LLC’s holdings in Cardinal Health were worth $674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $244,000. Wellington Management Group LLP raised its stake in shares of Cardinal Health by 107.8% during the fourth quarter. Wellington Management Group LLP now owns 24,348 shares of the company’s stock valued at $2,454,000 after purchasing an additional 12,631 shares during the period. Fisher Asset Management LLC lifted its position in shares of Cardinal Health by 39.3% during the fourth quarter. Fisher Asset Management LLC now owns 4,193 shares of the company’s stock worth $423,000 after purchasing an additional 1,183 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Cardinal Health by 50.5% in the first quarter. GAMMA Investing LLC now owns 1,856 shares of the company’s stock valued at $208,000 after purchasing an additional 623 shares during the period. Finally, Wedmont Private Capital grew its holdings in Cardinal Health by 5.9% during the 1st quarter. Wedmont Private Capital now owns 3,467 shares of the company’s stock valued at $375,000 after purchasing an additional 194 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent analyst reports. Evercore ISI boosted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company upped their target price on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Citigroup dropped their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, UBS Group increased their price objective on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Cardinal Health Stock Performance

NYSE CAH opened at $112.41 on Friday. The firm has a market capitalization of $27.38 billion, a PE ratio of 49.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a one year low of $90.19 and a one year high of $116.05. The company has a 50-day simple moving average of $111.00 and a 200-day simple moving average of $104.01.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The company had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. Cardinal Health’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. Equities analysts forecast 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 was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.506 dividend. The ex-dividend date was Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a yield of 1.80%. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Insider Activity

In related news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the transaction, the chief financial officer now owns 36,867 shares in the company, valued at approximately $4,015,184.97. The trade was a 0.00 % decrease in their position. 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 firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is currently owned by company insiders.

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.