Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by APG Asset Management N.V.

APG Asset Management N.V. lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 18.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 558,880 shares of the company's stock after acquiring an additional 86,369 shares during the period. APG Asset Management N.V. owned approximately 0.23% of Cardinal Health worth $51,270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CAH. Point72 Asset Management L.P. purchased a new position in Cardinal Health in the 2nd quarter worth about $90,440,000. Acadian Asset Management LLC raised its position in Cardinal Health by 19.1% in the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company's stock worth $416,585,000 after acquiring an additional 598,002 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of Cardinal Health in the first quarter worth approximately $56,454,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Cardinal Health by 265.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company's stock worth $73,577,000 after purchasing an additional 477,682 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Cardinal Health by 1,941.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company's stock valued at $46,183,000 after purchasing an additional 435,722 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cardinal Health

In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the completion of the sale, the chief executive officer now owns 197,636 shares in the company, valued at $21,546,276.72. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Aaron E. Alt sold 2,323 shares of the firm's 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 sale, the chief financial officer now owns 36,867 shares in the company, valued at $4,015,184.97. 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 company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 197,636 shares of the company's stock, valued at approximately $21,546,276.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley increased their price objective 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. Citigroup reduced their price target on shares of Cardinal Health from $115.00 to $107.00 and set a "neutral" rating on the stock in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $115.00 to $119.00 and gave the company a "hold" rating in a research report on Friday, August 16th. Evercore ISI boosted their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an "in-line" rating in a report on Thursday, August 15th. Finally, Robert W. Baird increased their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an "outperform" rating in a report on Thursday, August 15th. One investment 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $119.36.

Cardinal Health Stock Performance

NYSE:CAH traded up $0.75 during midday trading on Friday, reaching $109.98. 13,089 shares of the stock traded hands, compared to its average volume of 2,106,767. Cardinal Health, Inc. has a 12-month low of $85.82 and a 12-month high of $116.05. The stock has a market capitalization of $26.79 billion, a PE ratio of 48.55, a price-to-earnings-growth ratio of 1.33 and a beta of 0.60. The business has a 50-day moving average of $106.81 and a two-hundred day moving average of $104.03.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data 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 net margin of 0.37% and a negative return on equity of 54.85%. The business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. The company's revenue was up 12.1% compared to the same quarter last year. Research analysts anticipate that Cardinal Health, Inc. will post 7.62 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently announced 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. This represents a $2.02 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is 89.78%.

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.