Sawtooth Solutions LLC raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 19.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,145 shares of the company’s stock after acquiring an additional 1,181 shares during the period. Sawtooth Solutions LLC’s holdings in Cardinal Health were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in the company. Cairn Investment Group Inc. boosted its stake in shares of Cardinal Health by 3.0% during the third quarter. Cairn Investment Group Inc. now owns 19,190 shares of the company’s stock worth $949,000 after buying an additional 555 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Cardinal Health by 2.9% during the third quarter. Geneos Wealth Management Inc. now owns 79,452 shares of the company’s stock worth $3,978,000 after buying an additional 2,266 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Cardinal Health by 2.5% during the third quarter. CIBC Asset Management Inc now owns 26,711 shares of the company’s stock worth $1,321,000 after buying an additional 661 shares during the period. Rational Advisors LLC boosted its stake in shares of Cardinal Health by 47.0% during the third quarter. Rational Advisors LLC now owns 30,763 shares of the company’s stock worth $1,522,000 after buying an additional 9,841 shares during the period. Finally, Barclays PLC boosted its stake in shares of Cardinal Health by 20.0% during the third quarter. Barclays PLC now owns 628,149 shares of the company’s stock worth $31,069,000 after buying an additional 104,819 shares during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.
Shares of Cardinal Health stock opened at $53.09 on Friday. Cardinal Health, Inc. has a 12-month low of $45.85 and a 12-month high of $62.96. The company has a current ratio of 1.12, a quick ratio of 0.57 and a debt-to-equity ratio of 3.83. The stock has a market cap of $14.96 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98. The company has a 50-day moving average of $49.92 and a two-hundred day moving average of $51.82.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, January 15th. Stockholders of record on Monday, January 3rd will be paid a dividend of $0.4908 per share. The ex-dividend date of this dividend is Friday, December 31st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.70%. Cardinal Health’s dividend payout ratio (DPR) is 50.65%.
In other news, insider Ola M. Snow sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 18th. The shares were sold at an average price of $49.17, for a total transaction of $491,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.41% of the company’s stock.
Several equities research analysts have recently weighed in on CAH shares. Mizuho decreased their target price on shares of Cardinal Health from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, November 10th. TheStreet upgraded shares of Cardinal Health from a “c+” rating to a “b-” rating in a research report on Wednesday, November 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $51.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, November 12th. Barclays reduced their price objective on shares of Cardinal Health from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Zacks Investment Research cut shares of Cardinal Health from a “hold” rating to a “strong sell” rating and set a $45.00 target price for the company. in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Cardinal Health presently has a consensus rating of “Hold” and an average price target of $55.00.
Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.
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