Sei Investments Co. Has $50.29 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Sei Investments Co. lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 511,473 shares of the company’s stock after selling 35,483 shares during the period. Sei Investments Co. owned 0.21% of Cardinal Health worth $50,287,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. J. W. Coons Advisors LLC increased its stake in shares of Cardinal Health by 0.6% in the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock valued at $1,681,000 after buying an additional 100 shares during the period. Edmonds Duncan Registered Investment Advisors LLC increased its position in Cardinal Health by 5.0% in the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after acquiring an additional 100 shares during the period. Midland Wealth Advisors LLC raised its stake in shares of Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after acquiring an additional 100 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of Cardinal Health by 5.1% during the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Cardinal Health by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after purchasing an additional 100 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAH has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised 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. UBS Group lifted their price objective on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Wells Fargo & Company increased their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Citigroup dropped their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, Evercore ISI increased their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Cardinal Health Stock Up 1.0 %

NYSE:CAH opened at $111.84 on Monday. The firm has a market capitalization 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 twelve month low of $85.82 and a twelve month high of $116.05. The company has a fifty day moving average of $105.61 and a 200-day moving average of $104.00.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.10. The firm 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 business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 earnings per share. On average, analysts anticipate that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

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

Insider Buying and Selling at Cardinal Health

In other news, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was 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 $4,015,184.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the sale, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 113,963 shares of company stock valued at $12,379,980. Company insiders own 0.15% of the company’s stock.

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.