Prime Capital Investment Advisors LLC Boosts Stake in Cardinal Health, Inc. (NYSE:CAH)

Prime Capital Investment Advisors LLC increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 11.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,618 shares of the company’s stock after acquiring an additional 472 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Cardinal Health were worth $510,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Eastern Bank purchased a new stake in shares of Cardinal Health in the third quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new stake in Cardinal Health in the 2nd quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the 2nd quarter worth $29,000. Hara Capital LLC acquired a new stake in shares of Cardinal Health in the 3rd quarter worth $31,000. Finally, LRI Investments LLC purchased a new position in shares of Cardinal Health during the 1st quarter worth $32,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAH. Robert W. Baird raised their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Citigroup reduced their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Mizuho boosted their price objective on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Stock Down 2.1 %

NYSE:CAH opened at $118.78 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14. The company has a fifty day simple moving average of $113.14 and a two-hundred day simple moving average of $105.18. The company has a market cap of $28.75 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 1.56 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Cardinal Health’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 EPS. On average, analysts expect that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

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

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction on 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 completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The trade was a 17.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the transaction, the insider now directly owns 19,242 shares in the company, valued at $2,094,491.70. This trade represents a 17.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,351 shares of company stock worth $7,565,843 in the last 90 days. Corporate insiders own 0.09% 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.