AM Squared Ltd Invests $33,000 in Cardinal Health, Inc. (NYSE:CAH)

AM Squared Ltd purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the third quarter, Holdings Channel reports. The institutional investor purchased 300 shares of the company’s stock, valued at approximately $33,000.

Several other hedge funds also recently modified their holdings of CAH. Kingsview Wealth Management LLC bought a new stake in shares of Cardinal Health in the 1st quarter valued at $593,000. First Foundation Advisors bought a new stake in shares of Cardinal Health in the 1st quarter valued at $42,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Cardinal Health by 101.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after acquiring an additional 161,656 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Cardinal Health by 7.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 45,285 shares of the company’s stock valued at $5,067,000 after acquiring an additional 3,162 shares in the last quarter. Finally, TIAA Trust National Association bought a new stake in shares of Cardinal Health in the 1st quarter valued at $210,000. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Morgan Stanley lifted their price objective on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Robert W. Baird upped their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. UBS Group lifted their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Argus increased their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Trading Down 2.1 %

CAH stock opened at $118.78 on Friday. The stock’s fifty day simple moving average is $113.14 and its two-hundred day simple moving average is $105.20. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14. The stock has a market cap of $28.75 billion, a P/E ratio of 23.11, a P/E/G ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. As a group, analysts forecast that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

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

Insiders Place Their Bets

In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the sale, the chief executive officer now directly owns 197,636 shares in the company, valued at $21,546,276.72. The trade was a 19.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the sale, the insider now owns 19,242 shares in the company, valued at approximately $2,094,491.70. The trade was a 17.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,351 shares of company stock valued at $7,565,843. Insiders own 0.09% of the company’s stock.

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.