Raymond James & Associates Increases Stake in Cardinal Health, Inc. (NYSE:CAH)

Raymond James & Associates grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 309,960 shares of the company’s stock after buying an additional 21,414 shares during the quarter. Raymond James & Associates owned 0.13% of Cardinal Health worth $34,257,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Tobam raised its position in Cardinal Health by 773.4% during the 1st quarter. Tobam now owns 49,111 shares of the company’s stock worth $5,496,000 after buying an additional 43,488 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Cardinal Health by 101.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock worth $36,010,000 after buying an additional 161,656 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Cardinal Health by 5.2% during 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 buying an additional 15,663 shares during the last quarter. Alpha Cubed Investments LLC purchased a new position in Cardinal Health during the 3rd quarter worth $371,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised 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 buying an additional 6,752 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cardinal Health news, 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 value of $1,905,566.08. Following the completion of the sale, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock worth $12,379,980. Company insiders own 0.15% of the company’s stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $111.92 on Thursday. 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 $27.26 billion, a P/E ratio of 49.74, a P/E/G ratio of 1.57 and a beta of 0.60. The firm’s 50-day moving average is $111.42 and its two-hundred day moving average is $103.94.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.10. The company had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $1.55 EPS. As a group, analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.506 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $2.02 annualized dividend and a yield of 1.81%. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CAH. Robert W. Baird upped their price target 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 upped their price target on shares of Cardinal Health from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Morgan Stanley upped their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Citigroup lowered 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.18.

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.