Vontobel Holding Ltd. Reduces Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Vontobel Holding Ltd. lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 15.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,394 shares of the company's stock after selling 9,248 shares during the quarter. Vontobel Holding Ltd.'s holdings in Cardinal Health were worth $5,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth about $244,000. Wellington Management Group LLP grew its holdings in Cardinal Health by 107.8% during the 4th quarter. Wellington Management Group LLP now owns 24,348 shares of the company's stock worth $2,454,000 after acquiring an additional 12,631 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Cardinal Health by 39.3% in the fourth quarter. Fisher Asset Management LLC now owns 4,193 shares of the company's stock valued at $423,000 after buying an additional 1,183 shares during the period. HighPoint Advisor Group LLC bought a new position in Cardinal Health during the 4th quarter worth approximately $515,000. Finally, GAMMA Investing LLC raised its position in shares of Cardinal Health by 50.5% in the 1st quarter. GAMMA Investing LLC now owns 1,856 shares of the company's stock worth $208,000 after acquiring an additional 623 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 17,896 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health 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 sale, the insider now owns 94,529 shares of the company's stock, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the company's stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 over the last quarter. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAH. Argus raised their target price on Cardinal Health from $115.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 21st. UBS Group lifted their price target on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a "hold" rating in a report on Friday, August 16th. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of "Moderate Buy" and an average price target of $119.36.

Cardinal Health Price Performance

Cardinal Health stock traded up $0.48 during mid-day trading on Friday, reaching $112.41. 1,250,728 shares of the company traded hands, compared to its average volume of 2,086,768. Cardinal Health, Inc. has a fifty-two week low of $90.19 and a fifty-two week high of $116.05. The firm's fifty day moving average is $111.00 and its two-hundred day moving average is $104.01. The company has a market capitalization of $27.38 billion, a price-to-earnings ratio of 49.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the previous year, the business earned $1.55 EPS. The company's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.506 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Tuesday, October 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is 89.78%.

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.