Philip James Wealth Mangement LLC Purchases Shares of 15,952 Cardinal Health, Inc. (NYSE:CAH)

Philip James Wealth Mangement LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,952 shares of the company’s stock, valued at approximately $1,763,000.

A number of other hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its holdings in shares of Cardinal Health by 9.9% during the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after acquiring an additional 370,181 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Cardinal Health by 19.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after acquiring an additional 598,002 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cardinal Health by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after acquiring an additional 14,030 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Cardinal Health by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after acquiring an additional 85,247 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after acquiring an additional 111,137 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CAH. Argus boosted their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. boosted their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Wells Fargo & Company boosted their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Trading Up 1.7 %

Cardinal Health stock traded up $1.96 during mid-day trading on Friday, hitting $120.18. The company had a trading volume of 199,384 shares, compared to its average volume of 2,077,608. The stock’s 50 day moving average price is $112.07 and its two-hundred day moving average price is $104.41. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $120.43. The company has a market capitalization of $29.08 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.39 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the previous year, the company posted $1.73 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.84 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Insider Activity

In other news, insider Jessica L. Mayer sold 17,896 shares of the company’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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now directly owns 19,242 shares of the company’s stock, valued at $2,094,491.70. 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 available through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 over the last ninety days. 0.09% of the stock is currently owned by corporate insiders.

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.