Quest Partners LLC Purchases 13,172 Shares of Cardinal Health, Inc. (NYSE:CAH)

Quest Partners LLC grew its position in Cardinal Health, Inc. (NYSE:CAH) by 129.8% in the third quarter, Holdings Channel reports. The fund owned 23,320 shares of the company’s stock after acquiring an additional 13,172 shares during the quarter. Quest Partners LLC’s holdings in Cardinal Health were worth $2,577,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Eastern Bank bought a new position in shares of Cardinal Health in the 3rd quarter valued at $25,000. Frazier Financial Advisors LLC increased its holdings in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the period. Cultivar Capital Inc. acquired a new stake in Cardinal Health in the second quarter valued at $27,000. Hara Capital LLC acquired a new stake in Cardinal Health in the third quarter valued at $31,000. Finally, LRI Investments LLC acquired a new stake in Cardinal Health in the first quarter valued at $32,000. 87.17% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred 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 transaction, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This trade represents a 17.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $118.78 on Monday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.14. The stock has a market cap of $28.75 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.48 and a beta of 0.60. The firm’s 50-day simple moving average is $113.14 and its 200 day simple moving average is $105.22.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating 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 business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the firm earned $1.73 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently announced 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. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.70%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Evercore ISI increased their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. 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. Argus increased their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Barclays increased their price target on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, UBS Group increased their price target on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

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.