Mutual of America Capital Management LLC Has $3.03 Million Position in Cardinal Health, Inc. (NYSE:CAH)

Mutual of America Capital Management LLC trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,783 shares of the company’s stock after selling 1,181 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cardinal Health were worth $3,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CAH. Virtu Financial LLC acquired a new stake in shares of Cardinal Health during the 2nd quarter worth about $2,023,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Cardinal Health in the second quarter valued at $232,000. Renaissance Technologies LLC lifted its position in Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after buying an additional 111,137 shares in the last quarter. Quantbot Technologies LP grew its holdings in Cardinal Health by 132.4% during the 2nd quarter. Quantbot Technologies LP now owns 170,808 shares of the company’s stock worth $16,794,000 after acquiring an additional 97,307 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of 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 acquiring an additional 69,934 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH stock opened at $111.87 on Tuesday. The business has a 50-day moving average of $105.98 and a 200-day moving average of $103.99. Cardinal Health, Inc. has a fifty-two week low of $85.82 and a fifty-two week high of $116.05. The stock has a market capitalization of $27.25 billion, a P/E ratio of 49.72, a P/E/G ratio of 1.55 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 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 business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. 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

In related 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 approximately $10,065,447.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction 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 completion of the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the sale, the insider now owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,963 shares of company stock worth $12,379,980. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the subject of several research analyst reports. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Citigroup cut their target price 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. Wells Fargo & Company lifted their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Evercore ISI raised their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. Finally, Argus upped their target price 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average price target 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.