Livforsakringsbolaget Skandia Omsesidigt Increases Position in Cardinal Health, Inc. (NYSE:CAH)

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 868.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,799 shares of the company’s stock after purchasing an additional 5,200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cardinal Health were worth $641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Raleigh Capital Management Inc. boosted its holdings in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after acquiring an additional 268 shares during the period. Virtu Financial LLC acquired a new position in shares of Cardinal Health in the fourth quarter valued at approximately $244,000. EP Wealth Advisors LLC increased its stake in Cardinal Health by 70.3% during the 4th quarter. EP Wealth Advisors LLC now owns 5,065 shares of the company’s stock worth $511,000 after buying an additional 2,091 shares during the period. Wellington Management Group LLP lifted its holdings in Cardinal Health by 107.8% during the 4th quarter. Wellington Management Group LLP now owns 24,348 shares of the company’s stock worth $2,454,000 after buying an additional 12,631 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in Cardinal Health by 39.3% in the 4th quarter. Fisher Asset Management LLC now owns 4,193 shares of the company’s stock valued at $423,000 after buying an additional 1,183 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 1.2 %

Shares of NYSE CAH opened at $112.51 on Monday. The stock has a market cap of $27.40 billion, a P/E ratio of 50.00, a P/E/G ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a twelve month low of $90.19 and a twelve month high of $116.05. The stock has a 50 day moving average of $109.72 and a two-hundred day moving average of $103.89.

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 firm had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. Cardinal Health’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts predict that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The business 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. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.80%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the 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 sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction 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 transaction, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jason M. Hollar sold 26,716 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at $26,574,187.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 in the last quarter. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective 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. UBS Group increased their target price on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Citigroup decreased their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Wells Fargo & Company increased their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company 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.