Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Evergreen Capital Management LLC

Evergreen Capital Management LLC increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,836 shares of the company’s stock after buying an additional 120 shares during the quarter. Evergreen Capital Management LLC’s holdings in Cardinal Health were worth $377,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CAH. J. W. Coons Advisors LLC grew its stake in shares of Cardinal Health by 0.6% in the 4th quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock valued at $1,681,000 after purchasing an additional 100 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC grew its position in Cardinal Health by 5.0% in the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after buying an additional 100 shares during the last quarter. Midland Wealth Advisors LLC increased its stake in Cardinal Health by 4.2% in the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the period. Aptus Capital Advisors LLC raised its position in Cardinal Health by 5.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after buying an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Cardinal Health by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAH. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Evercore ISI lifted their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. Argus increased 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $119.36.

Insider Activity at Cardinal Health

In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now directly owns 197,636 shares in the company, valued at approximately $21,546,276.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 over the last quarter. Insiders own 0.15% of the company’s stock.

Cardinal Health Stock Up 0.4 %

Cardinal Health stock opened at $109.23 on Friday. The firm’s 50-day simple moving average is $106.81 and its 200 day simple moving average is $104.03. Cardinal Health, Inc. has a 52 week low of $85.82 and a 52 week high of $116.05. The firm has a market capitalization of $26.60 billion, a PE ratio of 48.55, a P/E/G ratio of 1.33 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same period in the prior year, the business earned $1.55 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts expect that Cardinal Health, Inc. will post 7.62 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business 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 is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend 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.