Natixis Advisors LLC Acquires 21,022 Shares of Cardinal Health, Inc. (NYSE:CAH)

Natixis Advisors LLC lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 376,420 shares of the company’s stock after purchasing an additional 21,022 shares during the period. Natixis Advisors LLC owned 0.15% of Cardinal Health worth $37,010,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Cardinal Health by 86.8% during the fourth 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 during the last quarter. Pinebridge Investments L.P. lifted its position in Cardinal Health by 237.7% during the 4th quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock valued at $17,290,000 after purchasing an additional 120,740 shares during the period. Tobam grew its position in shares of Cardinal Health by 773.4% during the 1st quarter. Tobam now owns 49,111 shares of the company’s stock worth $5,496,000 after buying an additional 43,488 shares during the period. Nomura Holdings Inc. raised its stake in shares of Cardinal Health by 12.3% during the fourth quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock worth $22,243,000 after buying an additional 24,222 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Cardinal Health by 101.1% in the first 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 Stock Up 0.5 %

Shares of NYSE:CAH opened at $112.72 on Tuesday. The firm has a market cap of $27.45 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 1.54 and a beta of 0.61. Cardinal Health, Inc. has a 12 month low of $85.82 and a 12 month high of $116.04. The company’s fifty day simple moving average is $101.30 and its 200 day simple moving average is $103.66.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 EPS. Research analysts expect that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Argus lowered their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Citigroup lowered 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. Morgan Stanley lifted their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.45.

Insider Activity

In related news, CEO Jason M. Hollar sold 46,455 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the completion of the transaction, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Michelle D. Greene sold 4,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were 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 $2,094,491.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason M. Hollar sold 46,455 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was 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 owns 197,636 shares in the company, valued at $21,546,276.72. 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 ninety days. Insiders own 0.15% of the company’s stock.

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.