Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Country Club Bank

Country Club Bank reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,175 shares of the company’s stock after selling 125 shares during the quarter. Country Club Bank’s holdings in Cardinal Health were worth $1,227,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CAH. Wellington Management Group LLP raised its stake in Cardinal Health by 107.8% in the 4th quarter. Wellington Management Group LLP now owns 24,348 shares of the company’s stock valued at $2,454,000 after purchasing an additional 12,631 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Cardinal Health in the 1st quarter worth $312,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Cardinal Health by 105.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 55,318 shares of the company’s stock worth $6,190,000 after acquiring an additional 28,421 shares during the last quarter. Mirador Capital Partners LP increased its stake in shares of Cardinal Health by 5.8% in the 1st quarter. Mirador Capital Partners LP now owns 11,854 shares of the company’s stock worth $1,326,000 after acquiring an additional 646 shares during the last quarter. Finally, Diversified Trust Co increased its stake in shares of Cardinal Health by 210.2% in the 1st quarter. Diversified Trust Co now owns 23,720 shares of the company’s stock worth $2,654,000 after acquiring an additional 16,074 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred on 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 transaction, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred 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 transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health 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 transaction, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. This trade represents 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 quarter. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. 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 research note on Thursday, August 15th. Wells Fargo & Company raised their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. UBS Group raised their target price on Cardinal Health from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. 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 report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. One investment 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’s stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $120.18.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $110.89 on Friday. Cardinal Health, Inc. has a fifty-two week low of $90.19 and a fifty-two week high of $116.05. The firm has a market capitalization of $27.01 billion, a PE ratio of 49.28, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The stock’s 50-day simple moving average is $111.64 and its 200-day simple moving average is $104.03.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share 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 business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same quarter last year, the company earned $1.55 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.506 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $2.02 annualized dividend and a yield of 1.83%. Cardinal Health’s payout ratio is 89.78%.

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.