E Fund Management Co. Ltd. Acquires 159 Shares of Cardinal Health, Inc. (NYSE:CAH)

E Fund Management Co. Ltd. increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,054 shares of the company’s stock after acquiring an additional 159 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Cardinal Health were worth $202,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC grew its position in Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after buying an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Cardinal Health during the 1st quarter worth $56,454,000. Jacobs Levy Equity Management Inc. increased its position in shares of 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. CIBC Private Wealth Group LLC raised its stake 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 valued at $46,183,000 after purchasing an additional 435,722 shares in the last quarter. Finally, Swedbank AB bought a new stake in Cardinal Health during the first quarter worth about $48,673,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group boosted their target price 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 upped their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Robert W. Baird raised 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. Finally, Evercore ISI boosted their target price 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Cardinal Health Price Performance

NYSE:CAH opened at $110.76 on Friday. Cardinal Health, Inc. has a one year low of $85.82 and a one year high of $116.05. The company has a market cap of $26.98 billion, a PE ratio of 49.23, a P/E/G ratio of 1.55 and a beta of 0.60. The firm’s 50 day simple moving average is $104.93 and its 200 day simple moving average is $104.07.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share 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%. Cardinal Health’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Equities research analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.506 dividend. This is a positive change 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 1.83%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s payout ratio is currently 89.78%.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 16,573 shares of the business’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. The sale was disclosed in a 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 that occurred on Thursday, August 15th. The stock was 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 owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the business’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 completion of the transaction, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is currently owned by company insiders.

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.