5,394 Shares of Cardinal Health, Inc. $CAH Purchased by M Holdings Securities Inc.

Key Points

• M Holdings Securities opened a position in Cardinal Health, buying 5,394 shares valued at approximately $1.24 million. Institutional investors collectively own 87.17% of the company.
• Cardinal Health beat quarterly estimates, reporting EPS of $3.26 versus $2.94 expected and revenue of $67.51 billion, up 5.5% year over year.
• Analysts have a consensus Moderate Buy rating and an average price target of $274. Insiders sold 210,271 shares worth about $49.6 million over the last quarter.

M Holdings Securities Inc. acquired a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,394 shares of the company's stock, valued at approximately $1,235,000.

Several other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Cardinal Health by 1.7% in the 3rd quarter. Brighton Jones LLC now owns 5,135 shares of the company's stock worth $1,143,000 after acquiring an additional 85 shares during the last quarter. Candriam S.C.A. grew its holdings in shares of Cardinal Health by 287.6% during the 3rd quarter. Candriam S.C.A. now owns 96,698 shares of the company's stock valued at $21,594,000 after purchasing an additional 71,752 shares during the last quarter. J. Derek Lewis & Associates Inc. grew its holdings in shares of Cardinal Health by 23.2% during the 3rd quarter. J. Derek Lewis & Associates Inc. now owns 1,062 shares of the company's stock valued at $236,000 after purchasing an additional 200 shares during the last quarter. Ethic Inc. grew its holdings in shares of Cardinal Health by 13.6% during the 3rd quarter. Ethic Inc. now owns 15,220 shares of the company's stock valued at $3,386,000 after purchasing an additional 1,828 shares during the last quarter. Finally, StoneX Group Inc. raised its position in Cardinal Health by 13.2% in the 3rd quarter. StoneX Group Inc. now owns 1,244 shares of the company's stock worth $284,000 after purchasing an additional 145 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CAH shares. JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $215.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, August 13th. UBS Group upped their target price on shares of Cardinal Health from $280.00 to $295.00 and gave the stock a "buy" rating in a research report on Friday, October 16th. Weiss Ratings upgraded shares of Cardinal Health from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Royal Bank Of Canada lifted their price target on shares of Cardinal Health from $276.00 to $295.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Sunday, October 25th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $274.00.

Insider Transactions at Cardinal Health

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the sale, the chief executive officer directly owned 77,901 shares in the company, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica L. Mayer sold 29,436 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the completion of the transaction, the insider directly owned 33,076 shares of the company's stock, valued at $7,812,220.44. This trade represents a 47.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 210,271 shares of company stock worth $49,626,657 over the last quarter. Corporate insiders own 0.12% of the company's stock.

Cardinal Health Stock Up 0.8%

CAH stock opened at $273.95 on Tuesday. Cardinal Health, Inc. has a twelve month low of $180.45 and a twelve month high of $286.29. The firm has a market cap of $63.44 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 1.57 and a beta of 0.53. The business has a 50 day moving average of $241.24 and a 200 day moving average of $223.87.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $3.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.94 by $0.32. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The business had revenue of $67.51 billion during the quarter, compared to analysts' expectations of $66.67 billion. During the same quarter in the previous year, the business earned $2.55 earnings per share. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts expect that Cardinal Health, Inc. will post 12.86 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.