Principal Financial Group Inc. Has $32.48 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Principal Financial Group Inc. cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,922 shares of the company's stock after selling 6,709 shares during the period. Principal Financial Group Inc. owned 0.12% of Cardinal Health worth $32,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Eastern Bank purchased a new stake in shares of Cardinal Health in the third quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health in the 2nd quarter worth $27,000. LRI Investments LLC acquired a new stake in shares of Cardinal Health in the 1st quarter worth $32,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the 2nd quarter worth $29,000. Finally, New Covenant Trust Company N.A. purchased a new position in Cardinal Health in the 1st quarter worth $40,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Robert W. Baird lifted their price target on Cardinal Health from $130.00 to $137.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. Evercore ISI increased their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an "in-line" rating in a research note on Thursday, August 15th. Citigroup cut their price target on Cardinal Health from $115.00 to $107.00 and set a "neutral" rating on the stock in a research note on Friday, July 19th. Finally, UBS Group raised their price objective on Cardinal Health from $134.00 to $139.00 and gave the stock a "buy" rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

Insider Buying and Selling

In related news, CEO Jason M. Hollar sold 46,455 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the sale, the chief executive officer now directly owns 197,636 shares of the company's stock, valued at $21,546,276.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the transaction, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason M. Hollar sold 46,455 shares of the firm's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the transaction, the chief executive officer now owns 197,636 shares in the company, valued at $21,546,276.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock worth $12,379,980 over the last quarter. 0.09% of the stock is owned by company insiders.

Cardinal Health Stock Performance

Cardinal Health stock traded up $1.87 during trading on Tuesday, reaching $123.51. 3,193,845 shares of the company's stock were exchanged, compared to its average volume of 2,094,798. The company's 50-day moving average is $112.40 and its two-hundred day moving average is $104.67. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $125.41. The firm has a market cap of $29.89 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.50 and a beta of 0.60.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 EPS. Analysts anticipate that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.64%. Cardinal Health's dividend payout ratio (DPR) is 39.30%.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.