Total Clarity Wealth Management Inc. Reduces Stake in Cardinal Health, Inc. (NYSE:CAH)

Total Clarity Wealth Management Inc. lessened its position in shares of Cardinal Health, Inc. (NYSE:CAHGet Rating) by 11.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,064 shares of the company’s stock after selling 407 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Cardinal Health were worth $204,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. LS Investment Advisors LLC purchased a new position in shares of Cardinal Health in the 2nd quarter valued at approximately $27,000. CX Institutional acquired a new position in Cardinal Health during the second quarter worth $33,000. Massmutual Trust Co. FSB ADV raised its holdings in Cardinal Health by 102.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 716 shares of the company’s stock worth $48,000 after purchasing an additional 363 shares during the last quarter. Allworth Financial LP raised its holdings in Cardinal Health by 29.3% during the third quarter. Allworth Financial LP now owns 776 shares of the company’s stock worth $52,000 after purchasing an additional 176 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Cardinal Health by 185.0% during the third quarter. Private Trust Co. NA now owns 798 shares of the company’s stock worth $53,000 after purchasing an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 88.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CAH shares. Bank Of America (Bofa) raised Cardinal Health from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $64.00 to $80.00 in a report on Friday, November 4th. Bank of America raised Cardinal Health from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $64.00 to $80.00 in a research report on Friday, November 4th. Morgan Stanley raised their price target on Cardinal Health from $82.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, January 6th. Credit Suisse Group raised their price target on Cardinal Health from $64.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 22nd. Finally, Mizuho raised their price target on Cardinal Health from $66.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, November 14th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Hold” and an average target price of $76.82.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Ola M. Snow sold 19,590 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $78.87, for a total transaction of $1,545,063.30. Following the transaction, the insider now owns 31,187 shares in the company, valued at $2,459,718.69. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Cardinal Health Stock Down 0.8 %

Shares of NYSE:CAH opened at $74.85 on Wednesday. The business has a fifty day simple moving average of $78.11 and a 200-day simple moving average of $71.21. Cardinal Health, Inc. has a 52 week low of $49.47 and a 52 week high of $81.57. The company has a market cap of $19.62 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.22 and a beta of 0.81.

Cardinal Health (NYSE:CAHGet Rating) last posted its quarterly earnings results on Friday, November 4th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.24. Cardinal Health had a negative return on equity of 252.82% and a negative net margin of 0.59%. The firm had revenue of $49.60 billion during the quarter, compared to the consensus estimate of $46.88 billion. Sell-side analysts expect that Cardinal Health, Inc. will post 5.3 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Tuesday, January 3rd were given a dividend of $0.4957 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Friday, December 30th. Cardinal Health’s dividend payout ratio (DPR) is presently 32.35%.

About Cardinal Health

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Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.

See Also

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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