Kentucky Retirement Systems Has $1.81 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Kentucky Retirement Systems trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,354 shares of the company’s stock after selling 118 shares during the quarter. Kentucky Retirement Systems’ holdings in Cardinal Health were worth $1,805,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cultivar Capital Inc. acquired a new position in Cardinal Health during the second quarter worth $27,000. Raleigh Capital Management Inc. raised its holdings 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 worth $28,000 after acquiring an additional 268 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health in the 2nd quarter valued at about $29,000. YHB Investment Advisors Inc. acquired a new position in Cardinal Health during the 1st quarter valued at about $32,000. Finally, LRI Investments LLC bought a new stake in Cardinal Health during the 1st quarter worth approximately $32,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Up 0.9 %

CAH stock opened at $111.81 on Friday. Cardinal Health, Inc. has a twelve month low of $85.82 and a twelve month high of $116.05. The firm has a market capitalization of $27.23 billion, a PE ratio of 49.69, a PEG ratio of 1.55 and a beta of 0.60. The stock has a 50-day simple moving average of $105.26 and a two-hundred day simple moving average of $104.12.

Cardinal Health (NYSE:CAH) last posted 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 business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. Cardinal Health’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.506 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jessica L. Mayer sold 17,896 shares of the firm’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 completion of the transaction, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 sale, the insider now directly owns 19,242 shares in the company, valued at $2,094,491.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CAH shares. Evercore ISI raised their target price on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, Argus increased their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $119.36.

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.