Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP cut its position in Cardinal Health, Inc. (NYSE:CAH) by 58.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,180 shares of the company’s stock after selling 3,014 shares during the period. Dark Forest Capital Management LP’s holdings in Cardinal Health were worth $214,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CAH. Pinebridge Investments L.P. increased its holdings in Cardinal Health by 237.7% in the 4th quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock worth $17,290,000 after buying an additional 120,740 shares during the period. Tobam increased its stake in shares of Cardinal Health by 773.4% in the first quarter. Tobam now owns 49,111 shares of the company’s stock worth $5,496,000 after acquiring an additional 43,488 shares during the period. Nomura Holdings Inc. raised its holdings in shares of Cardinal Health by 12.3% during the fourth quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock worth $22,243,000 after purchasing an additional 24,222 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Cardinal Health by 101.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after purchasing an additional 161,656 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Cardinal Health by 5.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock valued at $35,160,000 after purchasing an additional 15,663 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares in the company, valued at approximately $4,015,184.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,963 shares of company stock valued at $12,379,980. Corporate insiders own 0.15% of the company’s stock.

Cardinal Health Stock Up 0.7 %

CAH opened at $110.52 on Tuesday. The company has a market cap of $26.92 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 1.33 and a beta of 0.60. Cardinal Health, Inc. has a twelve month low of $85.82 and a twelve month high of $116.05. The company has a 50-day moving average price of $107.40 and a 200 day moving average price of $103.86.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter last year, the business posted $1.55 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.62 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.506 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.83%. This is a boost 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%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CAH shares. Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Morgan Stanley upped their price objective on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Wells Fargo & Company increased their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Finally, StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus target price 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.