Susquehanna Fundamental Investments LLC Boosts Holdings in Cardinal Health, Inc. (NYSE:CAH)

Susquehanna Fundamental Investments LLC grew its holdings in Cardinal Health, Inc. (NYSE:CAH) by 187.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 214,718 shares of the company’s stock after buying an additional 140,047 shares during the period. Susquehanna Fundamental Investments LLC owned 0.09% of Cardinal Health worth $21,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health in the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. increased its holdings in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Cardinal Health in the first quarter valued at approximately $32,000. LRI Investments LLC acquired a new stake in shares of Cardinal Health in the first quarter valued at approximately $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $109.79 on Friday. Cardinal Health, Inc. has a 1-year low of $85.82 and a 1-year high of $116.05. The stock has a market cap of $26.74 billion, a PE ratio of 48.80, a P/E/G ratio of 1.33 and a beta of 0.60. The stock’s fifty day moving average is $107.10 and its two-hundred day moving average is $103.99.

Cardinal Health (NYSE:CAH) last posted its quarterly 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 company had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. During the same period last year, the firm earned $1.55 earnings per share. Cardinal Health’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 earnings per share 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 given a dividend of $0.506 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 89.78%.

Insider Transactions at Cardinal Health

In other news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated 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 sale, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jason M. Hollar sold 46,455 shares of the firm’s stock in a transaction dated 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 $21,546,276.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following 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. Over the last 90 days, insiders have sold 113,963 shares of company stock worth $12,379,980. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CAH shares. Robert W. Baird increased 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. 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. Morgan Stanley increased their price objective on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report 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, Wells Fargo & Company increased their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.36.

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.