Altrius Capital Management Inc Increases Position in Cardinal Health, Inc. (NYSE:CAH)

Altrius Capital Management Inc lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,781 shares of the company’s stock after acquiring an additional 1,940 shares during the quarter. Altrius Capital Management Inc’s holdings in Cardinal Health were worth $4,600,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CAH. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at $27,000. Raleigh Capital Management Inc. increased its holdings in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in Cardinal Health in the first quarter worth about $32,000. LRI Investments LLC purchased a new position in Cardinal Health in the first quarter valued at about $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health during the 2nd quarter valued at approximately $29,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI lifted their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Finally, Argus lifted 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. One 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’s stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $119.36.

Insider Activity

In related news, CFO Aaron E. Alt sold 2,323 shares of the company’s 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 transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the sale, the insider now directly owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is currently owned by insiders.

Cardinal Health Trading Up 0.1 %

CAH stock opened at $111.40 on Thursday. The firm has a 50 day moving average of $104.62 and a 200-day moving average of $104.02. Cardinal Health, Inc. has a 12 month low of $85.82 and a 12 month high of $116.05. The firm has a market capitalization of $27.13 billion, a P/E ratio of 49.51, a price-to-earnings-growth ratio of 1.55 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. The firm had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $1.55 EPS. Sell-side analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.506 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.82%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 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.