Amalgamated Bank Trims Holdings in Cardinal Health, Inc. (NYSE:CAH)

Amalgamated Bank reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 25.6% in the third quarter, HoldingsChannel reports. The fund owned 53,092 shares of the company’s stock after selling 18,247 shares during the period. Amalgamated Bank’s holdings in Cardinal Health were worth $5,868,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Eastern Bank bought a new position in shares of Cardinal Health during the third quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new position in Cardinal Health during the 2nd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health during the second quarter valued at $29,000. LRI Investments LLC bought a new stake in Cardinal Health in the first quarter worth $32,000. Finally, New Covenant Trust Company N.A. bought a new stake in Cardinal Health in the first quarter worth $40,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday. UBS Group upped their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday. Mizuho lifted their target price on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday. Finally, JPMorgan Chase & Co. upped their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Insider Buying and Selling at Cardinal Health

In other news, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now directly owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Michelle D. Greene sold 4,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the sale, the insider now directly owns 19,242 shares in the company, valued at $2,094,491.70. This trade 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 hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction on Thursday, August 15th. The shares were 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 in the company, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,963 shares of company stock valued at $12,379,980. Company insiders own 0.09% of the company’s stock.

Cardinal Health Stock Up 2.3 %

NYSE CAH opened at $118.22 on Friday. The company has a 50-day moving average price of $112.07 and a 200-day moving average price of $104.41. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $119.58. The firm has a market capitalization of $28.61 billion, a P/E ratio of 23.00, a PEG ratio of 1.39 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.84 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.71%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

About Cardinal Health

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.