KBC Group NV Cuts Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

KBC Group NV lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 25.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 821,062 shares of the company's stock after selling 280,953 shares during the period. KBC Group NV owned about 0.34% of Cardinal Health worth $90,744,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CAH. Mitsubishi UFJ Trust & Banking Corp grew its position in Cardinal Health by 101.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company's stock worth $36,010,000 after buying an additional 161,656 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Cardinal Health by 5.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company's stock worth $35,160,000 after purchasing an additional 15,663 shares in the last quarter. Alpha Cubed Investments LLC bought a new position in shares of Cardinal Health in the third quarter worth $371,000. Bessemer Group Inc. raised its stake in Cardinal Health by 38.7% in the first quarter. Bessemer Group Inc. now owns 19,190 shares of the company's stock valued at $2,148,000 after purchasing an additional 5,352 shares in the last quarter. Finally, Mizuho Markets Americas LLC lifted its position in Cardinal Health by 97.6% during the first quarter. Mizuho Markets Americas LLC now owns 95,690 shares of the company's stock worth $10,708,000 after purchasing an additional 47,274 shares during the period. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Down 1.8 %

Shares of CAH stock traded down $2.24 during mid-day trading on Thursday, reaching $123.09. 1,190,989 shares of the stock traded hands, compared to its average volume of 2,103,204. The company has a market cap of $29.79 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.54 and a beta of 0.60. The stock's fifty day simple moving average is $112.81 and its two-hundred day simple moving average is $104.96. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $52.28 billion for the quarter, compared to analysts' expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore ISI raised their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the company an "in-line" rating in a report on Thursday, August 15th. StockNews.com downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 3rd. Citigroup reduced their target price on Cardinal Health from $115.00 to $107.00 and set a "neutral" rating on the stock in a report on Friday, July 19th. Wells Fargo & Company boosted their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an "underweight" rating in a report on Thursday, August 15th. Finally, Argus upped their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $123.00.

Insider Buying and Selling

In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now directly owns 19,242 shares in the company, valued at approximately $2,094,491.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jessica L. Mayer sold 16,573 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now directly owns 75,971 shares of the company's stock, valued at $8,310,467.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michelle D. Greene sold 4,000 shares of the company's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now owns 19,242 shares in the company, valued at approximately $2,094,491.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,067 shares of company stock valued at $10,474,413 over the last quarter. Insiders own 0.09% of the company's stock.

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.