Redhawk Wealth Advisors Inc. Has $620,000 Position in Cardinal Health, Inc. (NYSE:CAH)

Redhawk Wealth Advisors Inc. boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 8.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,614 shares of the company’s stock after purchasing an additional 434 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Cardinal Health were worth $620,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Cultivar Capital Inc. acquired a new position in Cardinal Health during the 2nd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health in the 2nd quarter worth $29,000. LRI Investments LLC acquired a new stake in Cardinal Health in the 1st quarter valued at $32,000. Palisade Asset Management LLC bought a new stake in Cardinal Health during the 1st quarter valued at $34,000. Finally, New Covenant Trust Company N.A. acquired a new position in Cardinal Health during the first quarter worth $40,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Down 0.5 %

Shares of CAH stock opened at $111.94 on Tuesday. The firm has a market cap of $27.26 billion, a P/E ratio of 49.75, a PEG ratio of 1.57 and a beta of 0.60. The company has a 50 day moving average of $110.00 and a 200-day moving average of $103.89. Cardinal Health, Inc. has a 12-month low of $90.19 and a 12-month high of $116.05.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same period in the previous year, the company posted $1.55 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.81%. Cardinal Health’s dividend payout ratio is 89.78%.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This represents a 0.00 % 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. In related news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the transaction, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock worth $12,379,980 in the last quarter. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Evercore ISI raised their target price on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Finally, Citigroup cut their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.36.

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.