Hsbc Holdings PLC Sells 12,709 Shares of Cardinal Health, Inc. (NYSE:CAH)

Hsbc Holdings PLC reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 455,798 shares of the company’s stock after selling 12,709 shares during the quarter. Hsbc Holdings PLC owned approximately 0.19% of Cardinal Health worth $45,032,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after acquiring an additional 598,002 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Cardinal Health by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock valued at $305,584,000 after purchasing an additional 14,030 shares during the period. Renaissance Technologies LLC boosted its position in shares of Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after purchasing an additional 111,137 shares in the last quarter. American Century Companies Inc. grew its stake in Cardinal Health by 17.7% during the second quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock worth $158,390,000 after purchasing an additional 242,608 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Cardinal Health by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,237,338 shares of the company’s stock worth $121,664,000 after purchasing an additional 69,934 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on CAH shares. Robert W. Baird raised their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. UBS Group raised their target price on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Argus raised their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.36.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the transaction, the chief executive officer now directly owns 244,091 shares of the company’s stock, valued at $26,574,187.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is owned by company insiders.

Cardinal Health Price Performance

CAH opened at $111.81 on Friday. Cardinal Health, Inc. has a fifty-two week low of $85.82 and a fifty-two week high of $116.05. The firm has a market capitalization of $27.23 billion, a P/E ratio of 49.69, a PEG ratio of 1.55 and a beta of 0.60. The company’s 50-day moving average is $105.26 and its 200 day moving average is $104.12.

Cardinal Health (NYSE:CAH) last announced its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities research 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 declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.506 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s payout ratio is 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.