Ballentine Partners LLC Decreases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Ballentine Partners LLC decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 11.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,215 shares of the company’s stock after selling 426 shares during the quarter. Ballentine Partners LLC’s holdings in Cardinal Health were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CAH. Point72 Asset Management L.P. purchased a new position in Cardinal Health in the 2nd quarter worth about $90,440,000. Acadian Asset Management LLC increased its position 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 valued at $416,585,000 after purchasing an additional 598,002 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Cardinal Health during the 1st quarter valued at about $56,454,000. Jacobs Levy Equity Management Inc. increased its position in shares of Cardinal Health by 265.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock valued at $73,577,000 after purchasing an additional 477,682 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Cardinal Health during the 1st quarter valued at about $48,673,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity

In other news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This 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 other news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This 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. Also, CEO Jason M. Hollar sold 46,455 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the sale, the chief executive officer now owns 197,636 shares in the company, valued at $21,546,276.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CAH. Argus upped their price target 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. UBS Group upped their price target on shares of Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Citigroup reduced their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.18.

Cardinal Health Price Performance

CAH stock opened at $110.87 on Tuesday. Cardinal Health, Inc. has a 1-year low of $90.19 and a 1-year high of $116.05. The company has a market capitalization of $27.00 billion, a price-to-earnings ratio of 49.28, a PEG ratio of 1.57 and a beta of 0.60. The business has a 50 day simple moving average of $111.66 and a two-hundred day simple moving average of $104.04.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same period in the prior year, the company posted $1.55 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.506 per share. 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 was Tuesday, October 1st. Cardinal Health’s dividend payout ratio 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.