PFG Investments LLC Lowers Position in Cardinal Health, Inc. (NYSE:CAH)

PFG Investments LLC trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 17.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,839 shares of the company’s stock after selling 385 shares during the quarter. PFG Investments LLC’s holdings in Cardinal Health were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Eastern Bank bought a new position in shares of Cardinal Health in the third quarter worth approximately $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health in the 2nd quarter worth $27,000. LRI Investments LLC purchased a new stake in shares of Cardinal Health during the 1st quarter valued at $32,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health during the 2nd quarter worth $29,000. Finally, Palisade Asset Management LLC purchased a new position in Cardinal Health in the first quarter worth $34,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CAH shares. Wells Fargo & Company lifted their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Robert W. Baird boosted their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Morgan Stanley upped their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.18.

Cardinal Health Trading Up 0.6 %

Shares of NYSE:CAH opened at $108.52 on Friday. The company has a 50-day moving average price of $111.61 and a 200-day moving average price of $104.13. The company has a market cap of $26.26 billion, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 12 month low of $90.19 and a 12 month high of $116.05.

Cardinal Health (NYSE:CAH) last released its quarterly 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 negative return on equity of 54.85% and a net margin of 0.37%. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same quarter in the prior year, the company posted $1.55 EPS. Cardinal Health’s quarterly 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.506 dividend. The ex-dividend date was Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a yield of 1.87%. Cardinal Health’s dividend payout ratio is 58.38%.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of the business’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 transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the 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 transaction, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,963 shares of company stock valued at $12,379,980. Company insiders own 0.09% of the company’s stock.

Cardinal Health Company 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.