Quest Partners LLC Boosts Holdings in Cardinal Health, Inc. (NYSE:CAH)

Quest Partners LLC boosted its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 129.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,320 shares of the company's stock after purchasing an additional 13,172 shares during the period. Quest Partners LLC's holdings in Cardinal Health were worth $2,577,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CAH. 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 Cardinal Health during the 2nd quarter worth approximately $27,000. Frazier Financial Advisors LLC boosted its position in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company's stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $29,000. Finally, Hara Capital LLC acquired a new stake in shares of Cardinal Health in the 3rd quarter valued at about $31,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Trading Up 0.9 %

Shares of CAH stock traded up $1.01 during trading hours on Monday, hitting $119.79. 712,062 shares of the company were exchanged, compared to its average volume of 2,106,466. The firm has a fifty day simple moving average of $113.14 and a 200 day simple moving average of $105.22. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.14. The stock has a market capitalization of $28.99 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 1.69%. Cardinal Health's dividend payout ratio is 39.30%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CAH. Barclays upped their target price on Cardinal Health from $117.00 to $133.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. UBS Group boosted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. StockNews.com lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 3rd. Wells Fargo & Company boosted their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an "underweight" rating in a report on Thursday, August 15th. Finally, Morgan Stanley lifted their target price on Cardinal Health from $119.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $123.00.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares of the company's stock, valued at approximately $8,310,467.69. This represents a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.