MRP Capital Investments LLC Sells 3,880 Shares of Cardinal Health, Inc. (NYSE:CAH)

MRP Capital Investments LLC trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 25.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,525 shares of the company’s stock after selling 3,880 shares during the period. MRP Capital Investments LLC’s holdings in Cardinal Health were worth $1,133,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Cardinal Health by 86.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock worth $6,998,000 after buying an additional 32,250 shares during the last quarter. Pinebridge Investments L.P. increased its stake in shares of Cardinal Health by 237.7% in the fourth quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock worth $17,290,000 after purchasing an additional 120,740 shares during the period. Tobam lifted its position in shares of Cardinal Health by 773.4% during the 1st quarter. Tobam now owns 49,111 shares of the company’s stock worth $5,496,000 after purchasing an additional 43,488 shares during the last quarter. Nomura Holdings Inc. grew its holdings in Cardinal Health by 12.3% in the 4th quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock valued at $22,243,000 after buying an additional 24,222 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Cardinal Health by 101.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock worth $36,010,000 after buying an additional 161,656 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Robert W. Baird boosted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Evercore ISI upped their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company raised their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.36.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the transaction, the insider now owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Jessica L. Mayer sold 17,896 shares of the business’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 completion of the transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the transaction, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock valued at $12,379,980 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $111.40 on Thursday. The firm has a market capitalization of $27.13 billion, a P/E ratio of 49.51, a P/E/G ratio of 1.55 and a beta of 0.60. The stock has a fifty day moving average price of $104.62 and a two-hundred day moving average price of $104.02. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last announced its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $1.55 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a yield of 1.82%. Cardinal Health’s dividend payout ratio is 89.78%.

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.