The Manufacturers Life Insurance Company Sells 25,108 Shares of Cardinal Health, Inc. (NYSE:CAH)

The Manufacturers Life Insurance Company lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 223,737 shares of the company’s stock after selling 25,108 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cardinal Health were worth $21,998,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cultivar Capital Inc. bought a new position in shares of Cardinal Health in the 2nd quarter worth approximately $27,000. Raleigh Capital Management Inc. raised its position in shares of Cardinal Health by 4,466.7% in 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. bought a new position in shares of Cardinal Health in the 1st quarter worth approximately $32,000. LRI Investments LLC bought a new position in shares of Cardinal Health in the 1st quarter worth approximately $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health in the 2nd quarter worth approximately $29,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI raised their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. Robert W. Baird raised their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, Citigroup reduced their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.36.

Cardinal Health Trading Up 0.3 %

Shares of CAH opened at $110.33 on Wednesday. The business’s fifty day simple moving average is $107.69 and its two-hundred day simple moving average is $103.86. Cardinal Health, Inc. has a 12 month low of $85.82 and a 12 month high of $116.05. The company has a market cap of $26.87 billion, a price-to-earnings ratio of 49.04, 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.62 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.506 dividend. This is an increase 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 1.83%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

Insider Transactions at Cardinal Health

In other news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the transaction, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock worth $12,379,980 in the last ninety days. Insiders own 0.15% of the company’s stock.

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.