J.P. Morgan Private Wealth Advisors LLC Acquires Shares of 99,501 Cardinal Health, Inc. (NYSE:CAH)

J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 99,501 shares of the company’s stock, valued at approximately $8,639,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in shares of Cardinal Health by 59.8% in the 2nd quarter. Covestor Ltd now owns 294 shares of the company’s stock valued at $28,000 after buying an additional 110 shares during the period. Stonebridge Capital Advisors LLC acquired a new stake in Cardinal Health in the second quarter valued at $29,000. Retirement Group LLC boosted its position in shares of Cardinal Health by 1,539.3% during the 4th quarter. Retirement Group LLC now owns 459 shares of the company’s stock worth $35,000 after purchasing an additional 431 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth $41,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of Cardinal Health by 300.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 957 shares of the company’s stock worth $54,000 after purchasing an additional 718 shares during the period. Institutional investors and hedge funds own 86.01% of the company’s stock.

Cardinal Health Price Performance

NYSE:CAH opened at $103.63 on Tuesday. The business’s 50-day moving average is $104.55 and its two-hundred day moving average is $96.87. The firm has a market capitalization of $25.21 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 0.92 and a beta of 0.69. Cardinal Health, Inc. has a 12 month low of $68.53 and a 12 month high of $111.40.

Cardinal Health (NYSE:CAHGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same period in the previous year, the company posted $1.32 EPS. Cardinal Health’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts anticipate that Cardinal Health, Inc. will post 7.31 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd were given a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Friday, December 29th. Cardinal Health’s payout ratio is currently 78.74%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $101.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, November 17th. Wells Fargo & Company started coverage on Cardinal Health in a research note on Thursday, December 14th. They issued an “underweight” rating and a $96.00 price objective for the company. Barclays began coverage on shares of Cardinal Health in a report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 target price for the company. UBS Group increased their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday. Finally, TheStreet cut Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $101.38.

Get Our Latest Stock Analysis on Cardinal Health

Insider Buying and Selling

In other news, CEO Deborah Weitzman sold 36,642 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $106.31, for a total transaction of $3,895,411.02. Following the transaction, the chief executive officer now owns 35,202 shares of the company’s stock, valued at $3,742,324.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Cardinal Health Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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