Sound Income Strategies LLC Raises Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Sound Income Strategies LLC lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 8,455.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,711 shares of the company’s stock after buying an additional 1,691 shares during the period. Sound Income Strategies LLC’s holdings in Cardinal Health were worth $189,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CAH. Paragon Capital Management Inc. increased its position in Cardinal Health by 0.7% in the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after buying an additional 99 shares during the period. Edmonds Duncan Registered Investment Advisors LLC grew its position in Cardinal Health by 5.0% in the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock worth $234,000 after purchasing an additional 100 shares during the last quarter. Aptus Capital Advisors LLC increased its position in Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after acquiring an additional 100 shares during the period. Midland Wealth Advisors LLC increased its stake in Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Cardinal Health by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling

In related news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the sale, the chief executive officer now directly owns 197,636 shares in the company, valued at approximately $21,546,276.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on CAH shares. Evercore ISI upped their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Argus boosted their target price on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.36.

Cardinal Health Trading Down 1.2 %

NYSE CAH opened at $112.51 on Monday. Cardinal Health, Inc. has a 1 year low of $90.19 and a 1 year high of $116.05. The firm has a market capitalization of $27.40 billion, a P/E ratio of 50.00, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The firm’s fifty day moving average price is $109.72 and its two-hundred day moving average price is $103.89.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same period in the previous year, the business posted $1.55 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.506 dividend. The ex-dividend date is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.80%. Cardinal Health’s dividend payout ratio is 89.78%.

Cardinal Health Company 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.