Cardinal Health, Inc. (NYSE:CAH) Shares Sold by LMG Wealth Partners LLC

by · The Cerbat Gem

LMG Wealth Partners LLC lowered its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 15.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,958 shares of the company’s stock after selling 13,849 shares during the period. Cardinal Health comprises approximately 2.4% of LMG Wealth Partners LLC’s investment portfolio, making the stock its 10th biggest position. LMG Wealth Partners LLC’s holdings in Cardinal Health were worth $10,602,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Cardinal Health by 5.3% during the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company’s stock worth $43,510,000 after purchasing an additional 15,956 shares during the last quarter. Huntington National Bank grew its stake in Cardinal Health by 1.2% during the 4th quarter. Huntington National Bank now owns 10,920 shares of the company’s stock valued at $1,292,000 after acquiring an additional 128 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in Cardinal Health by 17.2% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company’s stock valued at $429,000 after acquiring an additional 457 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Cardinal Health by 25.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company’s stock valued at $1,811,000 after buying an additional 2,694 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in shares of Cardinal Health by 569.5% in the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company’s stock valued at $54,000 after buying an additional 336 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CAH shares. Morgan Stanley upped their price objective on shares of Cardinal Health from $181.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI restated an “outperform” rating and issued a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Robert W. Baird raised their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, Citigroup restated a “neutral” rating and issued a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $158.07.

View Our Latest Research Report on CAH

Cardinal Health Price Performance

Shares of NYSE CAH opened at $161.06 on Wednesday. The company has a market cap of $38.44 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.68. Cardinal Health, Inc. has a 12 month low of $93.99 and a 12 month high of $168.44. The company has a 50-day simple moving average of $158.06 and a 200-day simple moving average of $139.47.

Cardinal Health (NYSE:CAH – Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 earnings per share. On average, analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.27%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, July 1st. Cardinal Health’s payout ratio is presently 31.83%.

Cardinal Health Profile

(Free Report)

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.

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