Cardinal Health, Inc. $CAH Position Lowered by Inscription Capital LLC

Key Points

• Inscription Capital cut its Cardinal Health stake by 82.6% in the third quarter, selling 5,125 shares and retaining 1,083 shares worth about $241,000.
• Cardinal Health reported quarterly EPS of $3.26, topping the $2.94 consensus estimate, while revenue rose 5.5% year over year to $67.51 billion.
• Analysts’ consensus rating is “Moderate Buy,” with a $274 price target; company insiders collectively sold 210,271 shares worth about $49.6 million over the past three months.

Inscription Capital LLC lessened its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 82.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,083 shares of the company's stock after selling 5,125 shares during the quarter. Inscription Capital LLC's holdings in Cardinal Health were worth $241,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Cardinal Health in the 2nd quarter worth about $6,293,115,000. Wellington Management Group LLP grew its holdings in Cardinal Health by 247.5% during the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company's stock valued at $3,530,206,000 after buying an additional 10,584,119 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Cardinal Health during the second quarter valued at about $689,066,000. Legal & General Group Plc bought a new stake in shares of Cardinal Health during the second quarter valued at about $438,870,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Cardinal Health in the second quarter worth about $308,640,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the transaction, the chief executive officer directly owned 77,901 shares in the company, valued at approximately $18,341,790.45. This represents a 8.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle Greene sold 11,650 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the transaction, 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 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 three months. Insiders own 0.12% of the company's stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $273.95 on Tuesday. Cardinal Health, Inc. has a 52-week low of $180.45 and a 52-week high of $286.29. The stock has a market capitalization of $63.44 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 1.57 and a beta of 0.53. The company has a fifty day moving average of $241.24 and a 200-day moving average of $223.87.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CAH shares. Leerink Partners set a $292.00 target price on shares of Cardinal Health in a report on Tuesday, August 11th. Wells Fargo & Company raised their price target 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. Weiss Ratings upgraded shares of Cardinal Health from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, October 8th. Morgan Stanley upped their price target on shares of Cardinal Health from $265.00 to $286.00 and gave the stock an "overweight" rating in a report on Friday, October 30th. Finally, Royal Bank Of Canada upped their price target on shares of Cardinal Health from $276.00 to $295.00 and gave the stock an "outperform" rating in a report on Friday. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.00.

Cardinal Health Company Profile

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.

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