Sanctuary Advisors LLC Purchases Shares of 66,914 Cardinal Health, Inc. (NYSE:CAH)

Sanctuary Advisors LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 66,914 shares of the company’s stock, valued at approximately $6,906,000.

Other institutional investors also recently modified their holdings of the company. J. W. Coons Advisors LLC boosted its stake in Cardinal Health by 0.6% during the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after buying an additional 100 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC increased its stake in Cardinal Health by 5.0% in the first 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 increased its stake in Cardinal Health by 4.2% in 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 period. Aptus Capital Advisors LLC lifted its stake in 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 boosted its holdings in Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’s 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 of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the transaction, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the firm’s 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 approximately $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. 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. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CAH. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. UBS Group upped their price target on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Morgan Stanley upped their target price on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, Robert W. Baird raised their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $111.97 on Friday. Cardinal Health, Inc. has a 52 week low of $89.00 and a 52 week high of $116.05. The stock has a market capitalization of $27.27 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 1.33 and a beta of 0.60. The firm has a fifty day moving average of $108.23 and a two-hundred day moving average of $103.95.

Cardinal Health (NYSE:CAH) last released its 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 for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 earnings per share. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.62 EPS for the current fiscal year.

Cardinal Health Increases Dividend

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

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.