Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Clarius Group LLC

Clarius Group LLC lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,726 shares of the company’s stock after selling 94 shares during the quarter. Clarius Group LLC’s holdings in Cardinal Health were worth $301,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after purchasing an additional 370,181 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after acquiring an additional 598,002 shares during the period. Price T Rowe Associates Inc. MD raised its position in Cardinal Health by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock valued at $305,584,000 after acquiring an additional 14,030 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after acquiring an additional 85,247 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Cardinal Health by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after purchasing an additional 111,137 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAH. Robert W. Baird lifted their target price 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. Morgan Stanley upped their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Wells Fargo & Company raised their target price on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Citigroup reduced their price target 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, Argus raised their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.36.

Insider Buying and Selling

In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now directly owns 244,091 shares in the company, valued at $26,574,187.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at $26,574,187.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is owned by corporate insiders.

Cardinal Health Stock Down 1.2 %

Shares of CAH opened at $112.51 on Friday. The firm’s fifty day moving average is $109.72 and its two-hundred day moving average is $103.95. The stock has a market cap of $27.40 billion, a PE ratio of 50.00, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 52-week low of $90.19 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. 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 posted $1.55 earnings per share. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

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

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.