Inscription Capital LLC Sells 5,125 Shares of Cardinal Health, Inc. $CAH

Inscription Capital LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 82.6% in the third quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CAH. BlackRock Inc. purchased a new position in shares of Cardinal Health during the 2nd quarter worth $6,293,115,000. Wellington Management Group LLP lifted its stake in shares of 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 position in shares of Cardinal Health in the second quarter worth about $689,066,000. Legal & General Group Plc purchased a new stake in shares of Cardinal Health during the second quarter worth about $438,870,000. Finally, Pacer Advisors Inc. grew its position in shares of Cardinal Health by 14.7% during the first quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock worth $330,728,000 after purchasing an additional 200,021 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling at Cardinal Health

In related news, CAO Mary C. Scherer sold 2,302 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total value of $546,471.78. Following the completion of the transaction, the chief accounting officer directly owned 2,811 shares of the company’s stock, valued at $667,303.29. This trade represents a 45.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Deborah Weitzman sold 7,354 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the transaction, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. This represents a 8.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 210,271 shares of company stock valued at $49,626,657. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAH. JPMorgan Chase & Co. boosted their price target on shares of Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Barclays upped their target price on shares of Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Leerink Partners set a $292.00 price objective on Cardinal Health in a research note on Tuesday, August 11th. Citigroup boosted their price objective on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, UBS Group raised their price objective on shares of Cardinal Health from $280.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, October 16th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $274.00.

Cardinal Health Stock Performance

NYSE CAH opened at $273.95 on Tuesday. Cardinal Health, Inc. has a one year low of $180.45 and a one year high of $286.29. The company 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’s 50-day simple moving average is $241.24 and its two-hundred day simple moving average is $223.87.

Cardinal Health (NYSE:CAH) last posted its 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. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The company had revenue of $67.51 billion during the quarter, compared to analyst estimates of $66.67 billion. During the same quarter in the prior year, the business earned $2.55 earnings per share. Cardinal Health’s revenue was up 5.5% on a year-over-year basis. Equities analysts expect that Cardinal Health, Inc. will post 12.86 earnings per share for the current fiscal year.

Cardinal Health 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.