APG Asset Management N.V. Purchases 86,369 Shares of Cardinal Health, Inc. (NYSE:CAH)

APG Asset Management N.V. boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 18.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 558,880 shares of the company’s stock after buying an additional 86,369 shares during the quarter. APG Asset Management N.V. owned approximately 0.23% of Cardinal Health worth $51,270,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CAH. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health in the second quarter valued at about $27,000. Raleigh Capital Management Inc. grew its holdings in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after buying an additional 268 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in Cardinal Health in the 1st quarter worth approximately $32,000. LRI Investments LLC acquired a new position in shares of Cardinal Health during the first quarter worth approximately $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health in the second quarter valued at approximately $29,000. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CAH shares. UBS Group upped their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley upped their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Robert W. Baird upped their price target on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, Argus raised their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.36.

Insider Buying and Selling at Cardinal Health

In other news, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the sale, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jessica L. Mayer sold 17,896 shares of the firm’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 value of $1,905,566.08. Following the completion of the sale, 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 SEC, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the transaction, the chief executive officer now directly owns 244,091 shares in the company, valued at approximately $26,574,187.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is currently owned by insiders.

Cardinal Health Price Performance

Shares of CAH stock opened at $109.23 on Friday. The stock’s fifty day simple moving average is $106.81 and its 200 day simple moving average is $104.03. Cardinal Health, Inc. has a one year low of $85.82 and a one year high of $116.05. The firm has a market cap of $26.60 billion, a price-to-earnings ratio of 48.55, a P/E/G ratio of 1.33 and a beta of 0.60.

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 the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion for 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 firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 EPS. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.62 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.85%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) 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.