Kendall Capital Management Sells 450 Shares of Cardinal Health, Inc. (NYSE:CAH)

Kendall Capital Management trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 14.7% in the second quarter, HoldingsChannel reports. The fund owned 2,615 shares of the company’s stock after selling 450 shares during the period. Kendall Capital Management’s holdings in Cardinal Health were worth $257,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cultivar Capital Inc. purchased a new position in Cardinal Health in the 2nd quarter worth approximately $27,000. Raleigh Capital Management Inc. increased its stake in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the period. YHB Investment Advisors Inc. purchased a new position in shares of Cardinal Health in the first quarter worth $32,000. LRI Investments LLC bought a new stake in Cardinal Health during the 1st quarter valued at $32,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Cardinal Health during the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CAH shares. UBS Group upped their price objective on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Argus increased their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Citigroup decreased their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Robert W. Baird lifted their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. One equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Cardinal Health Price Performance

NYSE:CAH opened at $110.76 on Friday. Cardinal Health, Inc. has a one year low of $85.82 and a one year high of $116.05. The company’s 50-day simple moving average is $104.93 and its 200 day simple moving average is $104.07. The firm has a market capitalization of $26.98 billion, a P/E ratio of 49.23, a PEG ratio of 1.55 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued 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 firm had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. During the same period in the previous year, the firm posted $1.55 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.83%. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock worth $12,379,980 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Cardinal Health 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.