Empirical Finance LLC Purchases 148 Shares of Cardinal Health, Inc. (NYSE:CAH)

Empirical Finance LLC increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,889 shares of the company’s stock after acquiring an additional 148 shares during the period. Empirical Finance LLC’s holdings in Cardinal Health were worth $982,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CAH. Eastern Bank purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at $25,000. Cultivar Capital Inc. purchased a new stake in Cardinal Health during the second quarter worth about $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health in the second quarter valued at about $29,000. Hara Capital LLC bought a new position in shares of Cardinal Health during the 3rd quarter valued at approximately $31,000. Finally, LRI Investments LLC purchased a new stake in shares of Cardinal Health during the 1st quarter worth approximately $32,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAH has been the subject of several research reports. Morgan Stanley increased their price objective on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased 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. Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Evercore ISI increased their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $123.00.

Insider Transactions at Cardinal Health

In other news, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now directly owns 19,242 shares in the company, valued at approximately $2,094,491.70. This represents a 17.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,351 shares of company stock valued at $7,565,843 in the last quarter. Insiders own 0.09% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $118.78 on Friday. The firm has a market capitalization of $28.75 billion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 1.56 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 company has a fifty day moving average price of $113.14 and a 200-day moving average price of $105.20.

Cardinal Health (NYSE:CAH) last announced its 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. 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 EPS. On average, analysts expect that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.70%. Cardinal Health’s dividend payout ratio is presently 39.30%.

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.