Janney Montgomery Scott LLC Buys 4,209 Shares of Cardinal Health, Inc. (NYSE:CAH)

Janney Montgomery Scott LLC lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,102 shares of the company’s stock after acquiring an additional 4,209 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.10% of Cardinal Health worth $26,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Eastern Bank bought a new position in shares of Cardinal Health during the third quarter worth about $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health during the second quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health in the second quarter worth approximately $29,000. LRI Investments LLC bought a new stake in Cardinal Health in the first quarter worth approximately $32,000. Finally, New Covenant Trust Company N.A. bought a new stake in Cardinal Health in the first quarter worth approximately $40,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

Cardinal Health stock opened at $111.90 on Tuesday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $119.13. The stock has a market cap of $27.08 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.60. The firm’s 50-day simple moving average is $111.75 and its 200 day simple moving average is $104.15.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.24. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the previous year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared 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 a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Tuesday, October 1st. Cardinal Health’s dividend payout ratio is presently 39.30%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Mizuho lifted their target price on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday. Finally, UBS Group upped their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $123.00.

Insider Activity at Cardinal Health

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction 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 sale, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.09% of the stock is owned by corporate insiders.

Cardinal Health Company 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.