Beese Fulmer Investment Management Inc. Sells 500 Shares of Cardinal Health, Inc. (NYSE:CAH)

Beese Fulmer Investment Management Inc. lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 13.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,215 shares of the company’s stock after selling 500 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Cardinal Health were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAH. Eastern Bank acquired a new position in shares of Cardinal Health during the 3rd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health in the second quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health in the second quarter valued at about $29,000. LRI Investments LLC acquired a new stake in shares of Cardinal Health during the 1st quarter worth about $32,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Cardinal Health during the 1st quarter worth about $34,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CAH. UBS Group increased their price target on shares of Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Argus boosted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.18.

Cardinal Health Price Performance

Shares of CAH opened at $112.15 on Friday. The firm has a 50 day simple moving average of $111.62 and a two-hundred day simple moving average of $104.05. Cardinal Health, Inc. has a one year low of $90.19 and a one year high of $116.05. The company has a market cap of $27.32 billion, a P/E ratio of 49.84, a P/E/G ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $58.74 billion. During the same quarter in the previous year, the firm earned $1.55 EPS. Cardinal Health’s revenue was up 12.1% on a year-over-year basis. On average, analysts expect that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were 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 1.80%. The ex-dividend date of this dividend was Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Insider Activity at Cardinal Health

In related news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at $4,015,184.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the transaction, the chief executive officer now owns 244,091 shares of the company’s stock, valued at $26,574,187.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is owned by insiders.

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.