Lido Advisors LLC Sells 5,697 Shares of Cardinal Health, Inc. $CAH

Lido Advisors LLC lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 14.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,963 shares of the company’s stock after selling 5,697 shares during the quarter. Lido Advisors LLC’s holdings in Cardinal Health were worth $7,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC increased its stake in shares of Cardinal Health by 72.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 6,717 shares of the company’s stock worth $1,494,000 after acquiring an additional 2,824 shares during the last quarter. Vestor Capital LLC raised its holdings in shares of Cardinal Health by 6,855.7% during the 3rd quarter. Vestor Capital LLC now owns 61,906 shares of the company’s stock worth $13,774,000 after acquiring an additional 61,016 shares during the period. Kestra Investment Management LLC boosted its position in shares of Cardinal Health by 4.4% during the 3rd quarter. Kestra Investment Management LLC now owns 7,606 shares of the company’s stock valued at $1,692,000 after acquiring an additional 318 shares during the last quarter. AlphaCore Capital LLC boosted its position in shares of Cardinal Health by 52.2% during the 3rd quarter. AlphaCore Capital LLC now owns 7,814 shares of the company’s stock valued at $1,739,000 after acquiring an additional 2,680 shares during the last quarter. Finally, Leuthold Group LLC boosted its position in shares of Cardinal Health by 9.5% during the 3rd quarter. Leuthold Group LLC now owns 66,881 shares of the company’s stock valued at $14,881,000 after acquiring an additional 5,806 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Activity at Cardinal Health

In other news, insider Michelle D. Greene sold 11,650 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total value of $2,746,138.00. Following the sale, the insider directly owned 10,330 shares of the company’s stock, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen M. Mason sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the completion of the transaction, the chief executive officer owned 18,061 shares in the company, valued at approximately $4,269,620.40. This represents a 65.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 210,271 shares of company stock valued at $49,626,657 over the last quarter. 0.12% of the stock is owned by insiders.

Cardinal Health Stock Up 0.2%

NYSE:CAH opened at $277.97 on Friday. Cardinal Health, Inc. has a 52 week low of $180.45 and a 52 week high of $286.29. The stock’s fifty day moving average is $243.50 and its two-hundred day moving average is $224.91. The company has a market capitalization of $64.25 billion, a P/E ratio of 35.96, a P/E/G ratio of 2.13 and a beta of 0.53.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, November 5th. The company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.32. The business had revenue of $67.51 billion during the quarter, compared to analysts’ expectations of $66.67 billion. Cardinal Health had a negative return on equity of 102.72% and a net margin of 0.71%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.55 EPS. Sell-side analysts anticipate that Cardinal Health, Inc. will post 12.96 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be given a $0.5158 dividend. The ex-dividend date of this dividend is Monday, January 4th. This represents a $2.06 dividend on an annualized basis and a yield of 0.7%. Cardinal Health’s dividend payout ratio is presently 26.65%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CAH. Citigroup raised their price objective on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. UBS Group boosted their target price on shares of Cardinal Health from $280.00 to $295.00 and gave the company a “buy” rating in a report on Friday, October 16th. Mizuho set a $290.00 price target on shares of Cardinal Health in a research note on Thursday, November 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $260.00 to $286.00 and gave the stock a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $279.44.

About Cardinal Health

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers. The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations. Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.