Venturi Wealth Management LLC Increases Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Venturi Wealth Management LLC raised its position in Cardinal Health, Inc. (NYSE:CAH) by 50.1% in the third quarter, Holdings Channel reports. The institutional investor owned 974 shares of the company’s stock after purchasing an additional 325 shares during the period. Venturi Wealth Management LLC’s holdings in Cardinal Health were worth $108,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Eastern Bank acquired a new position in Cardinal Health in the 3rd quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in Cardinal Health in the 2nd quarter valued at $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in Cardinal Health in the 2nd quarter worth $29,000. Hara Capital LLC acquired a new position in Cardinal Health during the third quarter worth $31,000. Finally, LRI Investments LLC purchased a new position in Cardinal Health during the first quarter valued at $32,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

CAH stock opened at $121.32 on Friday. The firm has a market cap of $29.36 billion, a PE ratio of 23.60, a PEG ratio of 1.54 and a beta of 0.60. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The firm’s 50 day moving average price is $113.00 and its 200-day moving average price is $105.07.

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

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Mizuho boosted their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. UBS Group raised their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company upped their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Insider Transactions at Cardinal Health

In related news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This represents a 5.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the completion of the transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. This represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,351 shares of company stock worth $7,565,843. 0.09% of the stock is currently owned by 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.