Blair William & Co. IL Raises Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Blair William & Co. IL raised its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,442 shares of the company’s stock after acquiring an additional 103 shares during the period. Blair William & Co. IL’s holdings in Cardinal Health were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $27,000. Raleigh Capital Management Inc. raised its holdings in shares of Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after acquiring an additional 268 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Cardinal Health during the 1st quarter worth approximately $32,000. LRI Investments LLC purchased a new stake in shares of Cardinal Health during the 1st quarter worth approximately $32,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $29,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 1.5 %

CAH opened at $110.19 on Wednesday. Cardinal Health, Inc. has a 12-month low of $85.82 and a 12-month high of $116.05. The business’s fifty day simple moving average is $106.27 and its 200-day simple moving average is $103.96. The company has a market capitalization of $26.84 billion, a price-to-earnings ratio of 48.97, a PEG ratio of 1.55 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the prior year, the company earned $1.55 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts predict 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. Investors of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio is 89.78%.

Insider Buying and Selling

In related news, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the sale, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the sale, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock worth $12,379,980 in the last three months. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CAH has been the topic of several recent research reports. UBS Group increased their price target on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. Wells Fargo & Company increased their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Argus increased their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. increased their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company 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.