Cardinal Health, Inc. (NYSE:CAH) Position Reduced by Truist Financial Corp

Truist Financial Corp trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 15.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,663 shares of the company’s stock after selling 16,795 shares during the quarter. Truist Financial Corp’s holdings in Cardinal Health were worth $8,717,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CAH. Pacer Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 370,181 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after purchasing an additional 598,002 shares during the period. Price T Rowe Associates Inc. MD grew 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 purchasing an additional 14,030 shares in the last quarter. ProShare Advisors LLC increased its stake in Cardinal Health by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after buying an additional 85,247 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Cardinal Health by 7.1% in 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. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the firm’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 transaction, the chief financial officer now owns 36,867 shares in the company, valued at $4,015,184.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cardinal Health 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 transaction of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock valued at $12,379,980 in the last 90 days. 0.15% of the stock is currently owned by company insiders.

Cardinal Health Trading Up 1.5 %

CAH opened at $111.98 on Friday. The business has a 50 day moving average of $108.50 and a 200-day moving average of $103.96. The stock has a market capitalization of $27.27 billion, a price-to-earnings ratio of 49.77, a P/E/G ratio of 1.33 and a beta of 0.60. Cardinal Health, Inc. has a 1-year low of $89.00 and a 1-year high of $116.05.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $58.74 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts predict that Cardinal Health, Inc. will post 7.62 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.81%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 89.78%.

Analyst Ratings Changes

CAH has been the topic of a number of research reports. 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 note on Friday, July 19th. Robert W. Baird increased their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Wells Fargo & Company increased their target price 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. Finally, UBS Group boosted their price target on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.