Cardinal Health, Inc. (NYSE:CAH) Stake Lifted by First Eagle Investment Management LLC

First Eagle Investment Management LLC increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 19.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,616 shares of the company’s stock after acquiring an additional 1,550 shares during the period. First Eagle Investment Management LLC’s holdings in Cardinal Health were worth $945,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CAH. Cultivar Capital Inc. bought a new stake in Cardinal Health during the second quarter worth approximately $27,000. Raleigh Capital Management Inc. boosted its holdings in Cardinal Health by 4,466.7% during 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 in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health during the second quarter worth approximately $29,000. YHB Investment Advisors Inc. bought a new stake in Cardinal Health during the first quarter worth approximately $32,000. Finally, LRI Investments LLC bought a new stake in Cardinal Health during the first quarter worth approximately $32,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Argus raised their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. UBS Group upped their price target on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. 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. JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, August 16th. One investment 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.36.

Insider Activity at Cardinal Health

In related news, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health 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 completion of the sale, the chief executive officer now owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the sale, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction 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 transaction, the chief executive officer now owns 197,636 shares in the company, valued at approximately $21,546,276.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,963 shares of company stock valued at $12,379,980. Insiders own 0.15% of the company’s stock.

Cardinal Health Stock Up 1.0 %

CAH stock opened at $111.84 on Friday. Cardinal Health, Inc. has a 12-month low of $85.82 and a 12-month high of $116.05. The company has a market cap of $27.24 billion, a price-to-earnings ratio of 49.71, a PEG ratio of 1.55 and a beta of 0.60. The company has a 50 day moving average of $105.61 and a two-hundred day moving average of $104.05.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same quarter in the previous year, the business earned $1.55 EPS. Cardinal Health’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.506 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is presently 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.