Ensign Peak Advisors Inc Acquires 10,225 Shares of Cardinal Health, Inc. (NYSE:CAH)

Ensign Peak Advisors Inc lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 131,828 shares of the company’s stock after acquiring an additional 10,225 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.05% of Cardinal Health worth $12,961,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CAH. Summit Trail Advisors LLC increased its holdings in shares of Cardinal Health by 10.4% in the second quarter. Summit Trail Advisors LLC now owns 2,617 shares of the company’s stock valued at $257,000 after purchasing an additional 247 shares during the last quarter. Sound Shore Management Inc. CT grew its stake in Cardinal Health by 24.8% in the 2nd quarter. Sound Shore Management Inc. CT now owns 669,762 shares of the company’s stock valued at $65,851,000 after buying an additional 133,195 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Cardinal Health by 9.9% in the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after acquiring an additional 370,181 shares during the period. AE Wealth Management LLC lifted its position in Cardinal Health by 17.8% during the second quarter. AE Wealth Management LLC now owns 45,059 shares of the company’s stock worth $4,430,000 after acquiring an additional 6,797 shares during the last quarter. Finally, Promethos Capital LLC boosted its holdings in shares of Cardinal Health by 2,850.6% during the second quarter. Promethos Capital LLC now owns 28,680 shares of the company’s stock worth $2,820,000 after acquiring an additional 27,708 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Trading Up 0.0 %

CAH opened at $111.87 on Tuesday. Cardinal Health, Inc. has a 1-year low of $85.82 and a 1-year high of $116.05. The company has a market cap of $27.25 billion, a P/E ratio of 49.72, a price-to-earnings-growth ratio of 1.55 and a beta of 0.60. The company has a fifty day moving average price of $105.98 and a two-hundred day moving average price of $103.99.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $59.87 billion during 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 company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.55 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

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

Insider Activity

In related news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The transaction was disclosed in a filing with the SEC, 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 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 directly 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 is available through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated 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 sale, the insider now 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 worth $12,379,980 over the last quarter. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup dropped 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. Morgan Stanley upped their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, Evercore ISI lifted their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.