Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 97.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,800 shares of the company’s stock after selling 679,836 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Cardinal Health were worth $1,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cultivar Capital Inc. purchased a new position in Cardinal Health in the 2nd quarter worth $27,000. Raleigh Capital Management Inc. lifted its holdings 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 worth $28,000 after purchasing an additional 268 shares during the period. YHB Investment Advisors Inc. purchased a new stake in Cardinal Health in the first quarter valued at approximately $32,000. LRI Investments LLC acquired a new position in Cardinal Health in the 1st quarter worth approximately $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Cardinal Health in the 2nd quarter worth approximately $29,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Down 1.2 %

CAH stock opened at $108.82 on Thursday. Cardinal Health, Inc. has a 52 week low of $85.82 and a 52 week high of $116.05. The firm has a 50-day simple moving average of $106.53 and a 200-day simple moving average of $103.99. The stock has a market capitalization of $26.50 billion, a P/E ratio of 48.36, a P/E/G ratio of 1.33 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.74 by $0.10. The company had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. Cardinal Health’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 EPS. On average, analysts expect that Cardinal Health, Inc. will post 7.62 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.506 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.86%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 17,896 shares of the 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 sale, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the transaction, the chief executive officer now owns 244,091 shares of the company’s stock, valued at $26,574,187.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the firm’s 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 $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 valued at $12,379,980 in the last 90 days. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CAH shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. Argus upped their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Wells Fargo & Company lifted their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Morgan Stanley boosted their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Evercore ISI raised their target price on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.36.

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.