Meeder Advisory Services Inc. Acquires 1,065 Shares of Cardinal Health, Inc. (NYSE:CAH)

Meeder Advisory Services Inc. increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 28.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,778 shares of the company’s stock after buying an additional 1,065 shares during the period. Meeder Advisory Services Inc.’s holdings in Cardinal Health were worth $470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Cardinal Health by 86.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock worth $6,998,000 after purchasing an additional 32,250 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in shares of Cardinal Health by 237.7% in the 4th quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock valued at $17,290,000 after buying an additional 120,740 shares in the last quarter. Tobam grew its position in shares of Cardinal Health by 773.4% in 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 last quarter. Nomura Holdings Inc. raised its stake in shares of Cardinal Health by 12.3% during the 4th quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock worth $22,243,000 after acquiring an additional 24,222 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in Cardinal Health by 101.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after acquiring an additional 161,656 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.7 %

Shares of NYSE CAH opened at $113.17 on Friday. The company has a 50 day simple moving average of $103.98 and a two-hundred day simple moving average of $104.08. 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. Cardinal Health, Inc. has a 12 month low of $85.82 and a 12 month high of $116.05.

Cardinal Health (NYSE:CAH) last posted its earnings results 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. The company had revenue of $59.87 billion during 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 earnings per share. Analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given 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 yield of 1.79%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $10,065,447.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 $10,065,447.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health 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 completion of the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAH. Robert W. Baird upped their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report 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 report on Friday, July 19th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Evercore ISI boosted their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $119.36.

About Cardinal Health

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.