MQS Management LLC Buys 1,687 Shares of Cardinal Health, Inc. (NYSE:CAH)

MQS Management LLC lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 54.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,795 shares of the company’s stock after purchasing an additional 1,687 shares during the quarter. MQS Management LLC’s holdings in Cardinal Health were worth $471,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cultivar Capital Inc. acquired a new position in Cardinal Health during the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. increased its stake in shares of Cardinal Health by 4,466.7% in 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. Ashton Thomas Private Wealth LLC acquired a new position in shares of Cardinal Health during the 2nd quarter worth $29,000. YHB Investment Advisors Inc. bought a new stake in shares of Cardinal Health during the 1st quarter worth $32,000. Finally, LRI Investments LLC acquired a new stake in Cardinal Health in the first quarter valued at about $32,000. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CAH. Citigroup lowered their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Morgan Stanley raised their target price on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Robert W. Baird upped their price target 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. Finally, Argus raised their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $119.36.

Insider Activity

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 stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction dated 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 owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock worth $12,379,980 in the last three months. Company insiders own 0.15% of the company’s stock.

Cardinal Health Price Performance

NYSE CAH opened at $110.76 on Friday. The stock has a market capitalization of $26.98 billion, a P/E ratio of 49.23, a P/E/G ratio of 1.55 and a beta of 0.60. The business 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 one year low of $85.82 and a one year high of $116.05.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping 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 net margin of 0.37% and a negative return on equity of 54.85%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 EPS. Equities analysts expect that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 dividend yield of 1.83%. The ex-dividend date is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is 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.