Thoroughbred Financial Services LLC Sells 4,336 Shares of Cardinal Health, Inc. (NYSE:CAH)

Thoroughbred Financial Services LLC lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 51.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,142 shares of the company’s stock after selling 4,336 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Cardinal Health were worth $407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CAH. Norges Bank purchased a new position in shares of Cardinal Health during the fourth quarter valued at about $258,499,000. Acadian Asset Management LLC grew its holdings in Cardinal Health by 19.1% in 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. Jupiter Asset Management Ltd. purchased a new stake in Cardinal Health in the first quarter worth about $56,454,000. Jacobs Levy Equity Management Inc. grew its holdings in Cardinal Health by 265.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after purchasing an additional 477,682 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in Cardinal Health by 1,941.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock worth $46,183,000 after purchasing an additional 435,722 shares during the period. 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 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 transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health stock in a transaction on Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the transaction, the chief executive officer now directly owns 244,091 shares of the company’s stock, valued at $26,574,187.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,963 shares of company stock valued at $12,379,980. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of recent research reports. Citigroup cut their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. JPMorgan Chase & Co. increased their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Robert W. Baird increased 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. Evercore ISI increased their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $113.28 on Tuesday. The firm has a fifty day moving average price of $104.31 and a 200-day moving average price of $104.03. The stock has a market cap of $27.59 billion, a PE ratio of 50.35, a price-to-earnings-growth ratio of 1.55 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $85.82 and a 1 year high of $116.05.

Cardinal Health (NYSE:CAH) last posted 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 company had revenue of $59.87 billion during 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%. Cardinal Health’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company posted $1.55 earnings per share. On average, research analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a yield of 1.79%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Cardinal Health 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.