Insight Wealth Strategies LLC Acquires 313 Shares of Cardinal Health, Inc. (NYSE:CAH)

Insight Wealth Strategies LLC grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.6% during the 4th quarter, HoldingsChannel reports. The fund owned 19,796 shares of the company’s stock after buying an additional 313 shares during the period. Insight Wealth Strategies LLC’s holdings in Cardinal Health were worth $2,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. National Bank of Canada FI grew its holdings in Cardinal Health by 13.0% during the 2nd quarter. National Bank of Canada FI now owns 98,467 shares of the company’s stock valued at $9,624,000 after buying an additional 11,322 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Cardinal Health by 26.4% during the 2nd quarter. Victory Capital Management Inc. now owns 869,548 shares of the company’s stock worth $85,494,000 after acquiring an additional 181,617 shares during the period. Private Advisor Group LLC lifted its stake in Cardinal Health by 16.4% in the 2nd quarter. Private Advisor Group LLC now owns 14,056 shares of the company’s stock worth $1,382,000 after purchasing an additional 1,979 shares in the last quarter. Advisor OS LLC boosted its holdings in Cardinal Health by 35.5% in the 2nd quarter. Advisor OS LLC now owns 6,293 shares of the company’s stock valued at $619,000 after purchasing an additional 1,650 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Cardinal Health during the 2nd quarter valued at $63,000. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Mizuho started coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Finally, Argus raised their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.85.

Cardinal Health Stock Performance

CAH stock traded up $0.41 during trading on Monday, hitting $119.71. 859,800 shares of the company traded hands, compared to its average volume of 1,335,482. The company has a 50-day moving average of $118.80 and a 200-day moving average of $110.45. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.23. The firm has a market capitalization of $28.97 billion, a PE ratio of 23.29, a P/E/G ratio of 1.47 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the business earned $1.73 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts expect that Cardinal Health, Inc. will post 7.82 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. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

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.