Citizens Financial Group Inc. RI Buys New Holdings in Cardinal Health, Inc. (NYSE:CAH)

Citizens Financial Group Inc. RI bought a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,356 shares of the company’s stock, valued at approximately $232,000.

Several other hedge funds have also recently bought and sold shares of the stock. J. W. Coons Advisors LLC lifted its position in Cardinal Health by 0.6% during the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after acquiring an additional 100 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC lifted its position 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 acquiring an additional 100 shares during the last quarter. Midland Wealth Advisors LLC lifted its position 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 acquiring an additional 100 shares during the last quarter. Aptus Capital Advisors LLC lifted its position 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 acquiring an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position 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 acquiring an additional 100 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on CAH shares. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Robert W. Baird raised their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Morgan Stanley raised their target price on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Evercore ISI raised their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Finally, UBS Group raised their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.36.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $110.76 on Friday. The company’s 50 day simple moving average is $104.93 and its 200 day simple moving average is $104.07. The stock has a market capitalization of $26.98 billion, a price-to-earnings ratio of 49.34, a price-to-earnings-growth ratio of 1.55 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $85.82 and a 1 year 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, topping analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 earnings per share. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.61 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. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is presently 89.78%.

Insiders Place Their Bets

In other Cardinal Health 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 sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, 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 transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction on 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 approximately $21,546,276.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is currently owned by insiders.

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.