Cardinal Health, Inc. (NYSE:CAH) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,723 shares of the company’s stock after purchasing an additional 2,746 shares during the quarter. CIBC Asset Management Inc’s holdings in Cardinal Health were worth $3,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Paragon Capital Management Inc. lifted its stake in Cardinal Health by 0.7% in the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after buying an additional 99 shares during the last quarter. Midland Wealth Advisors LLC grew its position in Cardinal Health by 4.2% in the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in shares of Cardinal Health by 5.1% in the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after purchasing an additional 100 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after buying an additional 100 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after buying an additional 100 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 1.1 %

Shares of Cardinal Health stock opened at $120.03 on Tuesday. The stock’s fifty day moving average is $113.28 and its 200-day moving average is $105.34. The firm has a market capitalization of $29.05 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the previous year, the business earned $1.73 EPS. The company’s revenue was down 4.3% on a year-over-year basis. Analysts expect that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.68%. Cardinal Health’s payout ratio is 39.30%.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on 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 directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Robert W. Baird lifted their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. UBS Group lifted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company increased their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Mizuho boosted their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.00.

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.