Simplicity Wealth LLC Sells 4,793 Shares of Cardinal Health, Inc. (NYSE:CAH)

Simplicity Wealth LLC cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 71.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,919 shares of the company’s stock after selling 4,793 shares during the period. Simplicity Wealth LLC’s holdings in Cardinal Health were worth $212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CAH. Pacer Advisors Inc. boosted its holdings in shares of Cardinal Health by 9.9% in the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after buying an additional 370,181 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Cardinal Health by 19.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after purchasing an additional 598,002 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Cardinal Health by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after purchasing an additional 14,030 shares during the period. ProShare Advisors LLC lifted its stake in Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after purchasing an additional 85,247 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Cardinal Health by 7.1% during the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after purchasing an additional 111,137 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 $8,310,467.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jason M. Hollar sold 46,455 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the sale, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,963 shares of company stock valued at $12,379,980. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Argus upped their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Robert W. Baird increased their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Citigroup cut their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Morgan Stanley boosted their target price on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. One equities research 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.36.

Cardinal Health Trading Down 0.5 %

Cardinal Health stock opened at $111.94 on Tuesday. The firm has a market cap of $27.26 billion, a price-to-earnings ratio of 49.75, a PEG ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 12 month low of $90.19 and a 12 month high of $116.05. The stock has a fifty day simple moving average of $110.00 and a two-hundred day simple moving average of $103.89.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The business 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%. Cardinal Health’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 EPS. On average, equities research analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business 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 $0.506 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 annualized dividend and a yield of 1.81%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

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.