Resonant Capital Advisors LLC Sells 197 Shares of Cardinal Health, Inc. (NYSE:CAH)

Resonant Capital Advisors LLC cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,538 shares of the company’s stock after selling 197 shares during the period. Resonant Capital Advisors LLC’s holdings in Cardinal Health were worth $944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CAH. Wellington Management Group LLP increased its holdings in Cardinal Health by 107.8% in the fourth quarter. Wellington Management Group LLP now owns 24,348 shares of the company’s stock worth $2,454,000 after purchasing an additional 12,631 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Cardinal Health by 39.3% in the 4th quarter. Fisher Asset Management LLC now owns 4,193 shares of the company’s stock valued at $423,000 after acquiring an additional 1,183 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Cardinal Health by 16.2% in the 1st quarter. Park Avenue Securities LLC now owns 6,575 shares of the company’s stock valued at $736,000 after acquiring an additional 918 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in shares of Cardinal Health by 0.6% during the 1st quarter. Gulf International Bank UK Ltd now owns 20,973 shares of the company’s stock valued at $2,346,000 after acquiring an additional 133 shares during the period. Finally, Ballentine Partners LLC boosted its stake in Cardinal Health by 26.0% during the first quarter. Ballentine Partners LLC now owns 3,238 shares of the company’s stock worth $362,000 after acquiring an additional 669 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason M. Hollar sold 26,716 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock valued at $12,379,980. Insiders own 0.15% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $112.41 on Monday. Cardinal Health, Inc. has a 1 year low of $90.19 and a 1 year high of $116.05. The company has a market capitalization of $27.38 billion, a price-to-earnings ratio of 49.96, a P/E/G ratio of 1.57 and a beta of 0.60. The firm’s fifty day moving average price is $111.00 and its two-hundred day moving average price is $103.96.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results 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. The business had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.506 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CAH. Morgan Stanley lifted their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Evercore ISI boosted their target price on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. Robert W. Baird increased their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. UBS Group raised their price objective on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company upped their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.36.

Cardinal Health 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.