Natixis Advisors LLC Grows Stake in Cardinal Health, Inc. (NYSE:CAH)

Natixis Advisors LLC lifted its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 22.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 461,449 shares of the company's stock after buying an additional 85,029 shares during the quarter. Natixis Advisors LLC owned approximately 0.19% of Cardinal Health worth $50,999,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Eastern Bank purchased a new stake in Cardinal Health in the 3rd quarter worth $25,000. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health in the second quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health during the second quarter valued at approximately $29,000. Hara Capital LLC purchased a new position in Cardinal Health during the 3rd quarter valued at approximately $31,000. Finally, LRI Investments LLC purchased a new position in Cardinal Health during the 1st quarter valued at approximately $32,000. Institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

NYSE:CAH traded down $2.51 during midday trading on Friday, hitting $118.78. The company's stock had a trading volume of 2,241,163 shares, compared to its average volume of 2,331,620. The firm has a market cap of $28.75 billion, a P/E ratio of 23.11, a P/E/G ratio of 1.48 and a beta of 0.60. The firm's 50 day moving average is $113.14 and its 200-day moving average is $105.20. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.14.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $52.28 billion during the quarter, compared to analysts' expectations of $50.90 billion. During the same quarter in the prior year, the firm earned $1.73 earnings per share. The business's revenue was down 4.3% compared to the same quarter last year. As a group, analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current 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 issued a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.70%. Cardinal Health's payout ratio is 39.30%.

Insider Activity

In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the sale, the insider now owns 19,242 shares of the company's stock, valued at $2,094,491.70. The trade was a 17.21 % 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, CFO Aaron E. Alt sold 2,323 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the sale, the chief financial officer now owns 36,867 shares in the company, valued at $4,015,184.97. This trade represents a 5.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,351 shares of company stock valued at $7,565,843 in the last 90 days. Company insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com downgraded Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 3rd. Robert W. Baird increased their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the company an "outperform" rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a "neutral" rating in a report on Wednesday, August 21st. Mizuho increased their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Finally, UBS Group boosted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a "buy" rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $123.00.

About Cardinal Health

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.