Skandinaviska Enskilda Banken AB publ Decreases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Skandinaviska Enskilda Banken AB publ decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 16.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 831,585 shares of the company’s stock after selling 166,302 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.34% of Cardinal Health worth $81,761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Cultivar Capital Inc. bought a new position in shares of Cardinal Health in the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. grew its position in shares of Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in Cardinal Health in the 1st quarter worth about $32,000. LRI Investments LLC bought a new position in shares of Cardinal Health in the first quarter worth approximately $32,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at $29,000. Institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 17,896 shares of the firm’s 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 completion of the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the sale, the chief financial officer now owns 36,867 shares in the company, valued at approximately $4,015,184.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock valued at $12,379,980 in the last 90 days. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CAH. UBS Group upped their price target on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Robert W. Baird increased their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note 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 company a “neutral” rating in a research report on Wednesday, August 21st. One 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Price Performance

CAH stock opened at $110.76 on Friday. Cardinal Health, Inc. has a 1-year low of $85.82 and a 1-year high of $116.05. The stock has a market capitalization of $26.98 billion, a P/E ratio of 49.23, a P/E/G ratio of 1.55 and a beta of 0.60. The business has a fifty day moving average price of $104.93 and a 200-day moving average price of $104.07.

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, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. Cardinal Health’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 annualized dividend and a yield of 1.83%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio 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.