Philip James Wealth Mangement LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Philip James Wealth Mangement LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,952 shares of the company's stock, valued at approximately $1,763,000.

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

Cardinal Health Trading Up 2.0 %

Shares of NYSE CAH traded up $2.33 during trading on Friday, reaching $120.55. The company had a trading volume of 2,790,847 shares, compared to its average volume of 2,089,549. The stock has a market capitalization of $29.17 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.39 and a beta of 0.60. The stock has a 50-day moving average price of $112.07 and a two-hundred day moving average price of $104.41. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $121.79.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 EPS. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.84 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health's dividend payout ratio is presently 39.30%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CAH shares. Argus increased their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Wells Fargo & Company raised their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an "underweight" rating in a research report on Thursday, August 15th. Barclays upped their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an "overweight" rating in a research report on Monday. Citigroup lowered their target price on Cardinal Health from $115.00 to $107.00 and set a "neutral" rating for the company in a research note on Friday, July 19th. Finally, Mizuho increased their price target on Cardinal Health from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and a consensus price target of $123.00.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 17,896 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now owns 94,529 shares of the company's stock, valued at $10,065,447.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aaron E. Alt sold 2,323 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares of the company's stock, valued at approximately $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock valued at $12,379,980 over the last quarter. Company insiders own 0.09% of the company's stock.

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.