Bleakley Financial Group LLC Boosts Holdings in Cardinal Health, Inc. (NYSE:CAH)

Bleakley Financial Group LLC grew its position in Cardinal Health, Inc. (NYSE:CAH) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,497 shares of the company’s stock after purchasing an additional 272 shares during the quarter. Bleakley Financial Group LLC’s holdings in Cardinal Health were worth $497,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Tobam increased its position in Cardinal Health by 773.4% during the 1st quarter. Tobam now owns 49,111 shares of the company’s stock valued at $5,496,000 after buying an additional 43,488 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Cardinal Health by 101.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after acquiring an additional 161,656 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Cardinal Health by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock worth $35,160,000 after purchasing an additional 15,663 shares in the last quarter. Alpha Cubed Investments LLC acquired a new stake in Cardinal Health in the 3rd quarter worth approximately $371,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Cardinal Health by 1.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company’s stock worth $44,016,000 after purchasing an additional 6,752 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cardinal Health

In related 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 value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. 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 the SEC website. Also, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 in the last three months. 0.15% of the stock is currently owned by company insiders.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $112.32 on Tuesday. The firm’s 50 day simple moving average is $111.00 and its 200-day simple moving average is $103.91. Cardinal Health, Inc. has a 12 month low of $90.19 and a 12 month high of $116.05. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 1.57 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. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same quarter last year, the business earned $1.55 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. Analysts anticipate that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.506 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.80%. Cardinal Health’s payout ratio is 89.78%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CAH shares. Robert W. Baird lifted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. UBS Group boosted their price target on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Evercore ISI raised their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.36.

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.