Cardinal Health, Inc. (NYSE:CAH) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 6.0% during the second quarter, HoldingsChannel reports. The firm owned 1,237,338 shares of the company’s stock after buying an additional 69,934 shares during the period. Dimensional Fund Advisors LP’s holdings in Cardinal Health were worth $121,664,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its stake in Cardinal Health by 86.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock valued at $6,998,000 after purchasing an additional 32,250 shares during the period. Pinebridge Investments L.P. increased its stake in Cardinal Health by 237.7% in the fourth 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 boosted its holdings in shares of Cardinal Health by 773.4% in the first quarter. Tobam now owns 49,111 shares of the company’s stock valued at $5,496,000 after acquiring an additional 43,488 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in shares of Cardinal Health by 12.3% in the fourth quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock valued at $22,243,000 after acquiring an additional 24,222 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of 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 acquiring an additional 161,656 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jessica L. Mayer sold 17,896 shares of the company’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 completion of the transaction, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. 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 90 days. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Evercore ISI lifted their target price 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 shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. Citigroup lowered their target price 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. Morgan Stanley boosted their price objective 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Price Performance

NYSE:CAH opened at $111.84 on Monday. The firm has a 50 day simple moving average of $105.61 and a 200-day simple moving average of $104.00. The firm has a market cap of $27.24 billion, a PE ratio of 49.71, a P/E/G 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 quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates 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 business posted $1.55 earnings per share. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.506 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 89.78%.

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.