Gateway Investment Advisers LLC increased its position in Cardinal Health, Inc. (NYSE: CAH – Free Report) by 10.0% in the 3rd quarter, according to the company in its latest disclosure with the Securities & Exchange Commission. The institutional investor held 6,120 shares of the company’s stock after acquiring an additional 555 shares during the period. Gateway Investment Advisers LLC’s holdings in Cardinal Health were worth $676,000 when it last filed with the Securities & Exchange Commission.

Other large investors have also changed their stakes in the company. Cultivar Capital Inc. acquired a new stake in Cardinal Health during the second quarter worth approximately $27,000. Raleigh Capital Management Inc. increased its stake in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares during the last quarter. LRI Investments LLC acquired a new stake in Cardinal Health during the 1st quarter valued at approximately $32,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the second quarter valued at approximately $29,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Cardinal Health in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 87.17% of the company’s shares.

Analysts set new price targets

Several brokerages have weighed in on CAH. Argus increased 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. Morgan Stanley raised their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Wells Fargo & Company raised their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Citigroup reduced their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Evercore ISI increased their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $119.36.

Read our latest research report on CAH

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the CFO now owns 36,867 shares of the company’s stock, valued at $4,015,184.97. This trade represents a 0.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, available on the SEC’s website. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the sale, the CFO now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. This represents a 0.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, available via this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of stock in a transaction 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 completion of the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The trade represented a 0.00% decrease in their position. Disclosure of this sale can be found here. Over the last 90 days, insiders have sold 113,963 shares of the company’s stock worth $12,379,980. 0.15% of shares are owned by company insiders.

Cardinal Health Stock Performance

CAH shares opened at $112.51 on Monday. The company has a 50-day simple moving average of $109.72 and a 200-day simple moving average of $103.89. Cardinal Health, Inc. has a 52-week low of $90.19 and a 52-week high of $116.05. The company has a market capitalization of $27.40 billion, a price-to-earnings ratio of 50.00, a PEG ratio of 1.57, and a beta of 0.60.

Cardinal Health (NYSE: CAH – Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported EPS of $1.84 for the quarter, beating the consensus estimate of $1.74 by $0.10. The company had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The company’s quarterly revenue increased 12.1% on an annual basis. During the same quarter a year ago, the company earned $1.55 in earnings per share. Sell-side analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health increases its dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15. Shareholders of record on Tuesday, October 1 will receive a dividend of $0.506. This represents a dividend of $2.02 on an annualized basis and a yield of 1.80%. The ex-dividend date is Tuesday October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

Cardinal Health Company Profile

(Free report)

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, health systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and patients at home.

See also

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