Cardinal Health, Inc. (NYSE:CAH) Shares Sold by US Bancorp DE

US Bancorp DE decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,258 shares of the company’s stock after selling 961 shares during the quarter. US Bancorp DE’s holdings in Cardinal Health were worth $5,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Eastern Bank purchased a new stake in shares of Cardinal Health during the third quarter valued at $25,000. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health during the 2nd quarter valued at about $27,000. LRI Investments LLC acquired a new position in shares of Cardinal Health during the 1st quarter valued at about $32,000. Ashton Thomas Private Wealth LLC acquired a new stake in Cardinal Health in the 2nd quarter valued at approximately $29,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Cardinal Health in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Robert W. Baird raised 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. Morgan Stanley lifted their target price on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft boosted their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday. Finally, Mizuho boosted their price target on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Down 3.6 %

Shares of CAH opened at $111.90 on Tuesday. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $119.13. The firm has a 50 day moving average of $111.75 and a 200 day moving average of $104.15. The company has a market capitalization of $27.08 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.24. The company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 EPS. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current 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 paid a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a yield of 1.81%. The ex-dividend date was Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is presently 39.30%.

Insider Transactions at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the 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 completion of the transaction, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health 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 owns 75,971 shares in the company, valued at approximately $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the company’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 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 disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 over the last quarter. 0.09% of the stock is currently owned by insiders.

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.