Aaron Wealth Advisors LLC Grows Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Aaron Wealth Advisors LLC grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 8.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,539 shares of the company’s stock after purchasing an additional 859 shares during the period. Aaron Wealth Advisors LLC’s holdings in Cardinal Health were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health in the 2nd quarter worth $27,000. LRI Investments LLC acquired a new position in Cardinal Health in the 1st quarter valued at about $32,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $29,000. Palisade Asset Management LLC purchased a new stake in shares of Cardinal Health during the 1st quarter valued at approximately $34,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Cardinal Health during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH traded down $0.70 on Friday, hitting $111.23. 159,466 shares of the company were exchanged, compared to its average volume of 2,080,778. Cardinal Health, Inc. has a fifty-two week low of $90.19 and a fifty-two week high of $116.05. The firm has a market capitalization of $27.09 billion, a P/E ratio of 49.75, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The business’s fifty day moving average is $110.76 and its 200 day moving average is $104.00.

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. The business had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. Analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.506 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.82%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is presently 89.78%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CAH. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. Evercore ISI lifted their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target 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 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $119.36.

Insider Buying and Selling at Cardinal Health

In other news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the sale, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. This represents 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 through the SEC website. In other news, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the sale, the chief executive officer now directly owns 244,091 shares in the company, valued at $26,574,187.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock valued at $12,379,980 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

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.