Van ECK Associates Corp Acquires 1,507 Shares of Cardinal Health, Inc. (NYSE:CAH)

Van ECK Associates Corp increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,996 shares of the company’s stock after purchasing an additional 1,507 shares during the quarter. Van ECK Associates Corp’s holdings in Cardinal Health were worth $3,581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eastern Bank bought a new position in Cardinal Health in the 3rd quarter worth about $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health in the second quarter worth approximately $27,000. LRI Investments LLC purchased a new stake in Cardinal Health in the first quarter valued at approximately $32,000. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health during the second quarter valued at approximately $29,000. Finally, New Covenant Trust Company N.A. purchased a new position in Cardinal Health in the 1st quarter worth approximately $40,000. 87.17% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health 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 sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health 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 completion of the transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the chief executive officer now directly owns 244,091 shares in the company, valued at approximately $26,574,187.17. 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. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of research analyst reports. Barclays increased their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Argus raised 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. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. UBS Group increased 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, November 4th. Finally, Citigroup dropped their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Trading Up 2.0 %

Cardinal Health stock opened at $120.56 on Friday. The firm has a market cap of $29.18 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.44 and a beta of 0.60. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $121.79. The firm has a 50-day moving average of $112.22 and a 200-day moving average of $104.54.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the business posted $1.73 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Research analysts forecast that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.68%. 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.