Detalus Advisors LLC Invests $220,000 in Cardinal Health, Inc. (NYSE:CAH)

Detalus Advisors LLC purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,990 shares of the company’s stock, valued at approximately $220,000.

Several other institutional investors have also recently added to or reduced their stakes in CAH. Commerzbank Aktiengesellschaft FI purchased a new position in Cardinal Health in the 3rd quarter valued at $1,092,000. Lecap Asset Management Ltd. acquired a new stake in shares of Cardinal Health in the 3rd quarter worth $1,981,000. Global X Japan Co. Ltd. boosted its holdings in shares of Cardinal Health by 6.3% in the third quarter. Global X Japan Co. Ltd. now owns 4,362 shares of the company’s stock valued at $482,000 after acquiring an additional 258 shares in the last quarter. Eastern Bank acquired a new position in shares of Cardinal Health during the third quarter worth about $25,000. Finally, Signaturefd LLC raised its holdings in Cardinal Health by 18.7% during the third quarter. Signaturefd LLC now owns 2,701 shares of the company’s stock worth $298,000 after purchasing an additional 425 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. UBS Group increased their price objective on Cardinal Health from $125.00 to $134.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley boosted their target price on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Argus boosted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Robert W. Baird increased their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $120.18.

Insiders Place Their Bets

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 113,963 shares of company stock valued at $12,379,980. Company insiders own 0.15% of the company’s stock.

Cardinal Health Price Performance

NYSE:CAH traded down $0.41 during trading hours on Wednesday, reaching $111.82. 209,166 shares of the company traded hands, compared to its average volume of 2,069,475. The firm’s 50-day moving average is $111.42 and its 200-day moving average is $103.94. The stock has a market cap of $27.24 billion, a P/E ratio of 49.88, a P/E/G ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 1-year low of $90.19 and a 1-year high of $116.05.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 EPS. As a group, research analysts predict that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.506 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. Cardinal Health’s dividend payout ratio is presently 89.78%.

Cardinal Health Profile

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.