Xponance Inc. Purchases 21,659 Shares of Cardinal Health, Inc. (NYSE:CAH)

Xponance Inc. lifted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 36.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,288 shares of the company’s stock after acquiring an additional 21,659 shares during the period. Xponance Inc.’s holdings in Cardinal Health were worth $7,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cultivar Capital Inc. bought a new position in shares of Cardinal Health during the 2nd quarter worth approximately $27,000. Raleigh Capital Management Inc. boosted its stake in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after acquiring an additional 268 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Cardinal Health in the second quarter worth $29,000. YHB Investment Advisors Inc. bought a new stake in Cardinal Health in the first quarter valued at $32,000. Finally, LRI Investments LLC acquired a new position in shares of Cardinal Health during the first quarter valued at about $32,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on 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 sale, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now 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 can be accessed through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on 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 in the company, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock worth $12,379,980 over the last 90 days. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI lifted 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. Citigroup lowered their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Finally, Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. One equities research 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, the company has an average rating of “Moderate Buy” and an average target price of $119.36.

Cardinal Health Stock Up 0.0 %

CAH stock opened at $111.87 on Tuesday. The firm has a market cap of $27.25 billion, a PE ratio of 49.72, a P/E/G ratio of 1.55 and a beta of 0.60. 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 12-month low of $85.82 and a 12-month high of $116.05.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same period in the prior year, the company posted $1.55 earnings per share. Cardinal Health’s quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts expect that Cardinal Health, Inc. will post 7.61 earnings per share for the current 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 given a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 89.78%.

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.