Rhumbline Advisers Acquires 52,716 Shares of Cardinal Health, Inc. (NYSE:CAH)

Rhumbline Advisers grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 697,544 shares of the company’s stock after buying an additional 52,716 shares during the quarter. Rhumbline Advisers’ holdings in Cardinal Health were worth $68,582,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CAH. Cultivar Capital Inc. bought a new position in Cardinal Health during the 2nd quarter worth approximately $27,000. Raleigh Capital Management Inc. boosted its stake in shares of Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares during the period. YHB Investment Advisors Inc. bought a new position in shares of Cardinal Health in the first quarter worth approximately $32,000. LRI Investments LLC bought a new stake in Cardinal Health during the 1st quarter valued at $32,000. Finally, Palisade Asset Management LLC purchased a new stake in Cardinal Health during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling at Cardinal Health

In other news, CEO Jason M. Hollar sold 46,455 shares of the 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 in the company, valued at $21,546,276.72. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction dated 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the sale, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. 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 owned by corporate insiders.

Cardinal Health Price Performance

NYSE:CAH opened at $113.93 on Thursday. The company’s 50-day simple moving average is $101.78 and its 200 day simple moving average is $103.80. Cardinal Health, Inc. has a one year low of $85.82 and a one year high of $116.05. The firm has a market capitalization of $27.75 billion, a P/E ratio of 50.64, a PEG ratio of 1.54 and a beta of 0.61.

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

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a yield of 1.78%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio is 89.78%.

Analysts Set New Price Targets

Several research firms recently issued reports on CAH. Morgan Stanley raised their target price on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Wells Fargo & Company boosted their target price on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Citigroup cut their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Finally, Evercore ISI raised their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.45.

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.