Sompo Asset Management Co. Ltd. Sells 6,620 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sompo Asset Management Co. Ltd. lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 70.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,840 shares of the company’s stock after selling 6,620 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Cardinal Health were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after acquiring an additional 370,181 shares during the last quarter. 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 buying an additional 598,002 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Cardinal Health by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock valued at $305,584,000 after buying an additional 14,030 shares during the period. Renaissance Technologies LLC boosted its position in Cardinal Health by 7.1% during the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after buying an additional 111,137 shares during the period. Finally, American Century Companies Inc. boosted its position 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 valued at $158,390,000 after buying an additional 242,608 shares during the period. Institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling

In related news, insider Jessica L. Mayer sold 16,573 shares of the 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 completion of the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jessica L. Mayer sold 16,573 shares of the 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 completion of the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction that occurred 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. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 over the last three months. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. UBS Group upped their price target on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Argus upped their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Evercore ISI upped their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Trading Up 1.0 %

Cardinal Health stock opened at $111.84 on Friday. The firm has a 50-day moving average of $105.61 and a 200-day moving average of $104.05. The firm has a market cap of $27.24 billion, a P/E ratio of 49.71, a P/E/G ratio of 1.55 and a beta of 0.60. Cardinal Health, Inc. has a 1-year low of $85.82 and a 1-year high of $116.05.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. Cardinal Health’s revenue was up 12.1% on a year-over-year basis. Research analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal 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 paid 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 yield of 1.81%. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio is presently 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.