Impact Partnership Wealth LLC Sells 210 Shares of Cardinal Health, Inc. (NYSE:CAH)

Impact Partnership Wealth LLC cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,219 shares of the company’s stock after selling 210 shares during the period. Impact Partnership Wealth LLC’s holdings in Cardinal Health were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CAH. Eastern Bank acquired a new position in Cardinal Health in the third quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $27,000. LRI Investments LLC bought a new position in shares of Cardinal Health in the 1st quarter worth $32,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health during the second quarter worth $29,000. Finally, Palisade Asset Management LLC bought a new stake in Cardinal Health in the first quarter valued at about $34,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted 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. UBS Group boosted their price objective on shares of Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday. Citigroup cut their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Argus boosted their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.18.

Cardinal Health Trading Up 0.6 %

Shares of Cardinal Health stock traded up $0.64 during trading on Thursday, reaching $112.56. The stock had a trading volume of 51,455 shares, compared to its average volume of 2,063,463. The company has a market capitalization of $27.42 billion, a price-to-earnings ratio of 49.74, a P/E/G ratio of 1.57 and a beta of 0.60. The stock has a fifty day moving average price of $111.54 and a two-hundred day moving average price of $103.99. Cardinal Health, Inc. has a 52 week low of $90.19 and a 52 week high of $116.05.

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 analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the prior year, the firm posted $1.55 EPS. The business’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.506 dividend. 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%. The ex-dividend date of this dividend was Tuesday, October 1st. Cardinal Health’s payout ratio is presently 89.78%.

Insiders Place Their Bets

In related news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction that occurred 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 directly owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the sale, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock valued at $12,379,980 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

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.