Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,781 shares of the company’s stock after selling 93 shares during the period. Foundations Investment Advisors LLC’s holdings in Cardinal Health were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Pacer Advisors Inc. grew its stake in shares of Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after acquiring an additional 370,181 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Cardinal Health by 19.1% in 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 in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Cardinal Health by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after acquiring an additional 14,030 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after acquiring an additional 85,247 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Cardinal Health by 7.1% in the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after acquiring an additional 111,137 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $112.15 on Friday. The company has a 50-day simple moving average of $111.62 and a 200-day simple moving average of $104.05. Cardinal Health, Inc. has a one year low of $90.19 and a one year high of $116.05. The stock has a market capitalization of $27.32 billion, a price-to-earnings ratio of 49.84, a PEG ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $58.74 billion. During the same period in the prior year, the company earned $1.55 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.506 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.80%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, October 1st. Cardinal Health’s dividend payout ratio is presently 89.78%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CAH. Argus boosted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. UBS Group boosted their target price on shares of Cardinal Health from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird boosted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Finally, Citigroup lowered their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.18.

Insider Activity

In other news, insider Jessica L. Mayer sold 17,896 shares of the company’s 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 of the company’s stock, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 shares were 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 owns 75,971 shares in the company, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the sale, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,963 shares of company stock valued at $12,379,980. Insiders own 0.15% of the company’s stock.

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.