XTX Topco Ltd Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

XTX Topco Ltd bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,114 shares of the company’s stock, valued at approximately $2,469,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altrius Capital Management Inc lifted its holdings in shares of Cardinal Health by 4.3% in the 2nd quarter. Altrius Capital Management Inc now owns 46,781 shares of the company’s stock valued at $4,600,000 after buying an additional 1,940 shares during the period. First Eagle Investment Management LLC lifted its holdings in Cardinal Health by 19.2% in the second quarter. First Eagle Investment Management LLC now owns 9,616 shares of the company’s stock valued at $945,000 after acquiring an additional 1,550 shares during the period. Seven Eight Capital LP boosted its position in Cardinal Health by 26.8% in the 2nd quarter. Seven Eight Capital LP now owns 81,799 shares of the company’s stock worth $8,001,000 after purchasing an additional 17,288 shares in the last quarter. Blair William & Co. IL grew its stake in shares of Cardinal Health by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock worth $1,125,000 after purchasing an additional 103 shares during the period. Finally, Zega Financial LLC purchased a new position in shares of Cardinal Health during the 2nd quarter valued at approximately $250,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Activity at Cardinal Health

In related news, 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 transaction of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 26,716 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Citigroup cut their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Argus boosted their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $119.36.

Cardinal Health Price Performance

CAH opened at $111.40 on Thursday. The business has a 50 day simple moving average of $104.62 and a 200-day simple moving average of $104.02. The stock 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. Cardinal Health, Inc. has a 12 month low of $85.82 and a 12 month high of $116.05.

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

Cardinal Health Increases Dividend

The business also recently disclosed 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. This represents a $2.02 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

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.