Perpetual Ltd Purchases New Shares in Cardinal Health, Inc. (NYSE:CAH)

Perpetual Ltd purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,881 shares of the company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAH. Cultivar Capital Inc. purchased a new stake in Cardinal Health during the 2nd quarter valued at $27,000. Raleigh Capital Management Inc. raised its holdings in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after buying an additional 268 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health in the 2nd quarter valued at $29,000. LRI Investments LLC bought a new position in Cardinal Health in the 1st quarter valued at $32,000. Finally, Palisade Asset Management LLC bought a new position in Cardinal Health in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 1.2 %

Shares of NYSE:CAH opened at $112.51 on Friday. Cardinal Health, Inc. has a 52-week low of $90.19 and a 52-week high of $116.05. The stock has a market cap of $27.40 billion, a price-to-earnings ratio of 50.00, a PEG ratio of 1.57 and a beta of 0.60. The business has a 50-day moving average price of $109.72 and a 200-day moving average price of $103.95.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same period last year, the business posted $1.55 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a yield of 1.80%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

Insider Buying and Selling

In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction that occurred on 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 approximately $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. 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 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup cut their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley upped their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, UBS Group increased their price target on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $119.36.

About Cardinal Health

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.