Insight Wealth Strategies LLC Acquires 313 Shares of Cardinal Health, Inc. (NYSE:CAH)

Insight Wealth Strategies LLC lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,796 shares of the company’s stock after purchasing an additional 313 shares during the period. Insight Wealth Strategies LLC’s holdings in Cardinal Health were worth $2,341,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CAH. Eastern Bank acquired a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $25,000. Frazier Financial Advisors LLC increased its stake 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 in the last quarter. Hara Capital LLC acquired a new position in shares of Cardinal Health during the third quarter valued at about $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health during the 2nd quarter worth about $29,000. Finally, AM Squared Ltd acquired a new stake in shares of Cardinal Health in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Morgan Stanley upped their price target on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $145.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $101.00 to $127.00 in a report on Friday, December 13th. Finally, Barclays lifted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.85.

Cardinal Health Stock Up 0.3 %

CAH stock traded up $0.41 during midday trading on Monday, hitting $119.71. The company’s stock had a trading volume of 859,800 shares, compared to its average volume of 1,335,482. The stock has a market cap of $28.97 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.47 and a beta of 0.63. The stock’s 50-day moving average price is $118.80 and its 200 day moving average price is $110.45. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.23.

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 analysts’ consensus estimates 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 company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the previous year, the firm earned $1.73 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company 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 dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.69%. Cardinal Health’s payout ratio is 39.30%.

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.