Moors & Cabot Inc. Sells 3,177 Shares of Cardinal Health, Inc. (NYSE:CAH)

Moors & Cabot Inc. lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 50.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,123 shares of the company’s stock after selling 3,177 shares during the quarter. Moors & Cabot Inc.’s holdings in Cardinal Health were worth $307,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CAH. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health in the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. lifted its position in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Cardinal Health during the 2nd quarter worth about $29,000. YHB Investment Advisors Inc. bought a new position in shares of Cardinal Health in the 1st quarter valued at about $32,000. Finally, LRI Investments LLC acquired a new stake in shares of Cardinal Health in the first quarter valued at about $32,000. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CAH shares. Argus raised their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. 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 upped their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Finally, UBS Group upped their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One equities research 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 stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Cardinal Health Stock Performance

Shares of CAH opened at $111.81 on Friday. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week high of $116.05. The firm has a market cap of $27.23 billion, a price-to-earnings ratio of 49.69, a PEG ratio of 1.55 and a beta of 0.60. The business’s fifty day moving average is $105.26 and its 200-day moving average is $104.12.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping 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 quarter in the previous year, the firm earned $1.55 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. 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 payout ratio is presently 89.78%.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction 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 sale, 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 document filed with the SEC, which is available at this hyperlink. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the business’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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now directly 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. Over the last ninety days, insiders sold 113,963 shares of company stock worth $12,379,980. Corporate insiders own 0.15% of the company’s stock.

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.