KCM Investment Advisors LLC Acquires 277 Shares of Cardinal Health, Inc. (NYSE:CAH)

KCM Investment Advisors LLC lifted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,849 shares of the company’s stock after acquiring an additional 277 shares during the period. KCM Investment Advisors LLC’s holdings in Cardinal Health were worth $1,460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in Cardinal Health during the 4th quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health during the second quarter worth $27,000. Raleigh Capital Management Inc. grew its stake in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after acquiring an additional 268 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Cardinal Health in the 1st quarter valued at $32,000. Finally, LRI Investments LLC bought a new stake in Cardinal Health in the 1st quarter valued at $32,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CAH shares. Evercore ISI raised their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Argus decreased their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Wells Fargo & Company raised their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Finally, 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 research note on Friday, August 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.45.

Insider Activity at Cardinal Health

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction on Monday, August 19th. The stock was 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 approximately $4,015,184.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the sale, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,963 shares of company stock worth $12,379,980. Company insiders own 0.15% of the company’s stock.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $112.72 on Friday. The firm has a market capitalization of $27.45 billion, a PE ratio of 50.10, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. The business has a 50 day simple moving average of $101.14 and a two-hundred day simple moving average of $103.61. Cardinal Health, Inc. has a 1 year low of $85.82 and a 1 year high of $116.04.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same quarter in the previous year, the business earned $1.55 EPS. Cardinal Health’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.80%. 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.