Leuthold Group LLC Cuts Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Leuthold Group LLC lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,659 shares of the company’s stock after selling 631 shares during the period. Leuthold Group LLC’s holdings in Cardinal Health were worth $6,947,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $27,000. Raleigh Capital Management Inc. raised its stake in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health during the second quarter worth about $29,000. YHB Investment Advisors Inc. purchased a new stake in Cardinal Health in the first quarter valued at approximately $32,000. Finally, LRI Investments LLC acquired a new position in Cardinal Health in the 1st quarter worth approximately $32,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cardinal Health

In other news, 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 transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the transaction, the chief financial officer now owns 36,867 shares in the company, valued at $4,015,184.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $109.02, for a total value 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 sold a total of 113,963 shares of company stock valued at $12,379,980 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CAH shares. Robert W. Baird increased their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Evercore ISI upped their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted 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 decreased their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Finally, Wells Fargo & Company raised their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have given 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.36.

Cardinal Health Stock Up 0.1 %

NYSE:CAH opened at $111.40 on Thursday. The firm has a market cap of $27.13 billion, a P/E ratio of 49.51, a PEG ratio of 1.55 and a beta of 0.60. The business’s 50-day moving average price is $104.62 and its 200 day moving average price is $104.02. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week 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 for the quarter, beating the consensus estimate of $1.74 by $0.10. The company had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $1.55 earnings per share. Sell-side analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.82%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend 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.