Cardinal Health, Inc. (NYSE:CAH) Stock Position Boosted by Promethos Capital LLC

Promethos Capital LLC raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2,850.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,680 shares of the company’s stock after buying an additional 27,708 shares during the period. Promethos Capital LLC’s holdings in Cardinal Health were worth $2,820,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Cultivar Capital Inc. bought a new stake in Cardinal Health during the second quarter worth approximately $27,000. Raleigh Capital Management Inc. raised its position in Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after acquiring an additional 268 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Cardinal Health in the 2nd quarter valued at about $29,000. YHB Investment Advisors Inc. bought a new stake in Cardinal Health during the first quarter worth approximately $32,000. Finally, LRI Investments LLC bought a new stake in shares of Cardinal Health during the 1st quarter worth $32,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cardinal Health

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on CAH shares. Deutsche Bank Aktiengesellschaft lifted 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. Citigroup cut their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Evercore ISI lifted 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, JPMorgan Chase & Co. increased their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $119.36.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $110.76 on Friday. The firm has a market cap of $26.98 billion, a price-to-earnings ratio of 49.23, a P/E/G ratio of 1.55 and a beta of 0.60. The stock has a 50-day simple moving average of $104.93 and a 200-day simple moving average of $104.07. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last posted its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The firm 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 company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.506 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.83%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 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.