TrinityPoint Wealth LLC Buys New Position in Cardinal Health, Inc. (NYSE:CAH)

TrinityPoint Wealth LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 16,518 shares of the company’s stock, valued at approximately $1,826,000.

Other large investors also recently bought and sold shares of the company. Eastern Bank acquired a new stake in Cardinal Health during the 3rd quarter valued at $25,000. Frazier Financial Advisors LLC grew its stake in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health during the second quarter worth about $27,000. Hara Capital LLC acquired a new position in shares of Cardinal Health in the third quarter worth about $31,000. Finally, LRI Investments LLC purchased a new position in Cardinal Health in the first quarter valued at about $32,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 17.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Cardinal Health Trading Down 2.1 %

NYSE CAH opened at $118.78 on Monday. The company has a 50-day moving average price of $113.14 and a two-hundred day moving average price of $105.22. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14. The stock has a market cap of $28.75 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CAH. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. UBS Group upped their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Argus lifted their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley upped their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.