Investment Management Associates Inc. ADV Has $824,000 Holdings in Cardinal Health, Inc. (NYSE:CAH)

Investment Management Associates Inc. ADV cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 56.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,457 shares of the company's stock after selling 9,486 shares during the period. Cardinal Health comprises approximately 0.3% of Investment Management Associates Inc. ADV's holdings, making the stock its 22nd largest holding. Investment Management Associates Inc. ADV's holdings in Cardinal Health were worth $824,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new stake in Cardinal Health during the second quarter valued at $90,440,000. Acadian Asset Management LLC lifted its position in Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company's stock valued at $416,585,000 after purchasing an additional 598,002 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Cardinal Health during the first quarter valued at $56,454,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Cardinal Health by 265.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company's stock worth $73,577,000 after acquiring an additional 477,682 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Cardinal Health in the 1st quarter worth approximately $48,673,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a "neutral" rating in a report on Wednesday, August 21st. StockNews.com downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Sunday, November 3rd. Argus upped their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. Finally, Evercore ISI raised their price target on Cardinal Health from $105.00 to $115.00 and gave the company an "in-line" rating in a report on Thursday, August 15th. One 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $123.00.

Cardinal Health Stock Up 1.5 %

Cardinal Health stock traded up $1.88 during mid-day trading on Tuesday, reaching $123.52. 3,262,258 shares of the company's stock were exchanged, compared to its average volume of 2,095,121. The firm has a market capitalization of $29.89 billion, a PE ratio of 23.67, a P/E/G ratio of 1.50 and a beta of 0.60. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $125.41. The business's fifty day simple moving average is $112.40 and its 200 day simple moving average is $104.67.

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

Cardinal Health Cuts Dividend

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

Insider Buying and Selling

In related news, CEO Jason M. Hollar sold 26,716 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 244,091 shares of the company's stock, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 value of $2,908,570.92. Following the transaction, the chief executive officer now directly owns 244,091 shares of the company's stock, valued at $26,574,187.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock valued at $12,379,980 over the last 90 days. Corporate insiders own 0.09% of the company's stock.

Cardinal Health Company 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.