Farther Finance Advisors LLC Purchases 260 Shares of Cardinal Health, Inc. (NYSE:CAH)

Farther Finance Advisors LLC boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,435 shares of the company’s stock after buying an additional 260 shares during the quarter. Farther Finance Advisors LLC’s holdings in Cardinal Health were worth $822,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Cardinal Health by 379.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 106,105 shares of the company’s stock worth $11,873,000 after buying an additional 83,975 shares during the period. Private Advisor Group LLC grew its position in Cardinal Health by 13.4% during the 1st quarter. Private Advisor Group LLC now owns 12,077 shares of the company’s stock valued at $1,350,000 after purchasing an additional 1,428 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Cardinal Health by 34.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,580 shares of the company’s stock valued at $9,576,000 after purchasing an additional 21,801 shares during the last quarter. Graypoint LLC purchased a new stake in Cardinal Health during the 1st quarter valued at about $265,000. Finally, Daiwa Securities Group Inc. grew its position in Cardinal Health by 37.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 37,753 shares of the company’s stock valued at $4,224,000 after purchasing an additional 10,317 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares in the company, valued at $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,963 shares of company stock worth $12,379,980. 0.09% of the stock is currently owned by insiders.

Cardinal Health Stock Down 3.6 %

Shares of CAH opened at $111.90 on Tuesday. The company has a market cap of $27.08 billion, a PE ratio of 21.77, a P/E/G ratio of 1.49 and a beta of 0.60. The business has a fifty day moving average of $111.75 and a 200 day moving average of $104.15. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $119.13.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.24. 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 54.85% and a net margin of 0.37%. Cardinal Health’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Analyst Upgrades and Downgrades

CAH has been the topic of several research analyst reports. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday. UBS Group upped 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. Citigroup lowered their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Wells Fargo & Company upped their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley increased their price objective on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $123.00.

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.