Sei Investments Co. Lowers Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Sei Investments Co. cut its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.5% during the 2nd quarter, Holdings Channel reports. The firm owned 511,473 shares of the company’s stock after selling 35,483 shares during the quarter. Sei Investments Co.’s holdings in Cardinal Health were worth $50,287,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CAH. J. W. Coons Advisors LLC lifted its position in shares of Cardinal Health by 0.6% during the 4th quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after buying an additional 100 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC lifted 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 acquiring an additional 100 shares during the period. Midland Wealth Advisors LLC boosted its position in Cardinal Health by 4.2% in 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 during the last quarter. Aptus Capital Advisors LLC grew its stake in Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after purchasing an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Cardinal Health by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after purchasing an additional 100 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health 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 sale, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 in the company, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target 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. JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Citigroup decreased their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Robert W. Baird upped their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, UBS Group raised their target price on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $119.36.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $111.84 on Monday. Cardinal Health, Inc. has a fifty-two week low of $85.82 and a fifty-two week high of $116.05. The stock has a market cap of $27.24 billion, a PE ratio of 49.71, a price-to-earnings-growth ratio of 1.55 and a beta of 0.60. The stock has a fifty day moving average of $105.61 and a 200-day moving average of $104.00.

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 analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same quarter in the previous year, the firm earned $1.55 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The company 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 $0.506 dividend. The ex-dividend date is Tuesday, October 1st. 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 1.81%. 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.