Strategic Financial Concepts LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 64,129 shares of the company's stock, valued at approximately $63,000.
Several other large investors have also recently made changes to their positions in CAH. Cambridge Investment Research Advisors Inc. lifted its stake in Cardinal Health by 86.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company's stock worth $6,998,000 after acquiring an additional 32,250 shares in the last quarter. Pinebridge Investments L.P. raised its stake in shares of Cardinal Health by 237.7% during the fourth quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company's stock worth $17,290,000 after purchasing an additional 120,740 shares during the last quarter. Tobam lifted its holdings in shares of Cardinal Health by 773.4% during the first quarter. Tobam now owns 49,111 shares of the company's stock worth $5,496,000 after purchasing an additional 43,488 shares during the period. Nomura Holdings Inc. grew its position in Cardinal Health by 12.3% in the 4th quarter. Nomura Holdings Inc. now owns 220,661 shares of the company's stock valued at $22,243,000 after buying an additional 24,222 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Cardinal Health by 101.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company's stock valued at $36,010,000 after buying an additional 161,656 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.
Cardinal Health Price Performance
NYSE:CAH traded down $1.06 during trading hours on Wednesday, reaching $113.31. 1,940,708 shares of the company were exchanged, compared to its average volume of 2,121,585. The firm has a market cap of $27.60 billion, a price-to-earnings ratio of 50.36, a PEG ratio of 1.53 and a beta of 0.60. The stock has a 50 day simple moving average of $103.30 and a 200 day simple moving average of $104.04. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week high of $116.05.
Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm had revenue of $59.87 billion during the quarter, compared to analysts' expectations of $58.74 billion. During the same quarter in the prior year, the business earned $1.55 EPS. Cardinal Health's quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that Cardinal Health, Inc. will post 7.6 EPS for the current fiscal year.
Cardinal Health Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 annualized dividend and a yield of 1.79%. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is presently 89.78%.
Analysts Set New Price Targets
CAH has been the subject of a number of recent analyst reports. Argus raised their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a "neutral" rating in a research report on Wednesday, August 21st. Morgan Stanley raised their target price on shares of Cardinal Health from $114.00 to $119.00 and gave the company an "overweight" rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the company a "hold" rating in a report on Friday, August 16th. Finally, Citigroup dropped their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a "neutral" rating for the company in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus target price of $119.36.
Check Out Our Latest Analysis on Cardinal Health
Insider Transactions at Cardinal Health
In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares of the company's stock, valued at $10,065,447.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the sale, the chief financial officer now directly owns 36,867 shares of the company's stock, valued at $4,015,184.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of the company's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is currently owned by corporate insiders.
About Cardinal Health
(
Free Report)
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.
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