Vest Financial LLC Has $56.08 Million Position in Cardinal Health, Inc. (NYSE:CAH)

Vest Financial LLC boosted its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 18.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 507,398 shares of the company's stock after acquiring an additional 79,033 shares during the period. Cardinal Health comprises about 1.1% of Vest Financial LLC's investment portfolio, making the stock its 22nd biggest holding. Vest Financial LLC owned about 0.21% of Cardinal Health worth $56,078,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CAH. Pacer Advisors Inc. lifted its holdings in shares of Cardinal Health by 9.9% in the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company's stock worth $403,022,000 after purchasing an additional 370,181 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company's stock valued at $416,585,000 after acquiring an additional 598,002 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Cardinal Health by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company's stock worth $305,584,000 after acquiring an additional 14,030 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Cardinal Health by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company's stock worth $172,974,000 after acquiring an additional 85,247 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Cardinal Health by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company's stock valued at $165,517,000 after purchasing an additional 111,137 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CAH shares. Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $115.00 to $119.00 and gave the stock a "hold" rating in a research report on Friday, August 16th. Morgan Stanley upped their target price on Cardinal Health from $114.00 to $119.00 and gave the stock an "overweight" rating in a research report on Thursday, August 15th. Citigroup decreased their price target on Cardinal Health from $115.00 to $107.00 and set a "neutral" rating for the company in a research note on Friday, July 19th. Evercore ISI boosted their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an "in-line" rating in a research note on Thursday, August 15th. Finally, Argus raised their target price on Cardinal Health from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $119.36.

Insider Activity

In related news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares of the company's stock, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction on 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 completion of the sale, the chief executive officer now owns 197,636 shares of the company's stock, valued at $21,546,276.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of the company's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is owned by corporate insiders.

Cardinal Health Stock Performance

CAH traded up $0.48 during trading on Friday, reaching $112.41. The company had a trading volume of 1,369,588 shares, compared to its average volume of 2,086,768. The firm's 50-day simple moving average is $111.00 and its 200 day simple moving average is $103.96. The company has a market cap of $27.38 billion, a price-to-earnings ratio of 49.96, a PEG ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 12-month low of $90.19 and a 12-month high of $116.05.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $1.55 earnings per share. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

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