Rockland Trust Co. Has $511,000 Holdings in Cardinal Health, Inc. (NYSE:CAH)

Rockland Trust Co. trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 55.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,620 shares of the company’s stock after selling 5,679 shares during the quarter. Rockland Trust Co.’s holdings in Cardinal Health were worth $511,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its position in Cardinal Health by 37.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,727 shares of the company’s stock valued at $275,000 after acquiring an additional 746 shares during the last quarter. J. W. Coons Advisors LLC boosted its holdings in Cardinal Health by 0.6% in the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after acquiring an additional 100 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in Cardinal Health by 1.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 99,909 shares of the company’s stock worth $10,071,000 after buying an additional 1,890 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Cardinal Health by 267.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 38,551 shares of the company’s stock worth $3,886,000 after acquiring an additional 28,072 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Cardinal Health by 4.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 16,631 shares of the company’s stock worth $1,676,000 after purchasing an additional 747 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the sale, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is currently owned by company insiders.

Cardinal Health Trading Up 1.5 %

CAH traded up $1.63 during trading on Friday, hitting $111.98. 1,490,687 shares of the company’s stock traded hands, compared to its average volume of 2,109,496. Cardinal Health, Inc. has a 12-month low of $89.00 and a 12-month high of $116.05. The company’s 50 day simple moving average is $108.50 and its two-hundred day simple moving average is $103.96. The stock has a market capitalization of $27.27 billion, a price-to-earnings ratio of 49.77, a PEG ratio of 1.33 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS 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 analyst estimates 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 for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 EPS. On average, equities analysts expect that Cardinal Health, Inc. will post 7.62 EPS for the current year.

Cardinal Health Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Argus raised their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft increased their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. Wells Fargo & Company lifted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Morgan Stanley raised their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cardinal Health currently has an average 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.