Kathmere Capital Management LLC Sells 302 Shares of Cardinal Health, Inc. (NYSE:CAH)

Kathmere Capital Management LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,967 shares of the company’s stock after selling 302 shares during the period. Kathmere Capital Management LLC’s holdings in Cardinal Health were worth $390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAH. Gryphon Financial Partners LLC bought a new stake in shares of Cardinal Health during the fourth quarter valued at about $247,000. Advisory Services Network LLC increased its position in shares of Cardinal Health by 14.0% during the fourth quarter. Advisory Services Network LLC now owns 5,292 shares of the company’s stock valued at $533,000 after buying an additional 651 shares during the period. Parallel Advisors LLC increased its position in shares of Cardinal Health by 14.8% during the fourth quarter. Parallel Advisors LLC now owns 1,714 shares of the company’s stock valued at $173,000 after buying an additional 221 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Cardinal Health by 37.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,727 shares of the company’s stock worth $275,000 after purchasing an additional 746 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Cardinal Health by 11.0% during the fourth quarter. TD Asset Management Inc now owns 328,446 shares of the company’s stock worth $33,107,000 after purchasing an additional 32,480 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

Shares of CAH opened at $109.79 on Friday. The firm has a market cap of $26.74 billion, a P/E ratio of 48.80, a P/E/G ratio of 1.33 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $85.82 and a 1 year high of $116.05. The stock has a 50 day simple moving average of $107.10 and a two-hundred day simple moving average of $103.91.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data 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. 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 business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 earnings per share. On average, equities 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 announced 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 dividend yield of 1.84%. The ex-dividend date is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 89.78%.

Wall Street Analysts Forecast Growth

CAH has been the subject of several recent analyst reports. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Morgan Stanley boosted their price objective on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $119.36.

Insider Activity at Cardinal Health

In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now 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 sold a total of 113,963 shares of company stock worth $12,379,980 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Cardinal Health 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.