Cardinal Health, Inc. (NYSE:CAH) Stake Raised by PFG Investments LLC

PFG Investments LLC grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 16.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,224 shares of the company’s stock after buying an additional 314 shares during the period. PFG Investments LLC’s holdings in Cardinal Health were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. J. W. Coons Advisors LLC raised its holdings in shares of Cardinal Health by 0.6% during the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock valued at $1,681,000 after buying an additional 100 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC raised its holdings in Cardinal Health by 5.0% during the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock worth $234,000 after purchasing an additional 100 shares in the last quarter. Midland Wealth Advisors LLC raised its holdings in Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in Cardinal Health by 5.1% during the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group boosted their target price on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Wells Fargo & Company boosted their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Argus boosted their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley boosted their target price on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.36.

Insider Activity

In other news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. The transaction 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 business’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 transaction, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock worth $12,379,980 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $113.17 on Friday. Cardinal Health, Inc. has a twelve month low of $85.82 and a twelve month high of $116.05. The stock has a market cap of $27.60 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 1.55 and a beta of 0.60. The firm’s 50 day moving average price is $103.98 and its two-hundred day moving average price is $104.11.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data 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. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. During the same period in the previous year, the company posted $1.55 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued 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 1.79%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s payout ratio is currently 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.