Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Amalgamated Bank

Amalgamated Bank lifted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,339 shares of the company’s stock after buying an additional 2,959 shares during the period. Amalgamated Bank’s holdings in Cardinal Health were worth $7,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CAH. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health in the second quarter worth $27,000. Raleigh Capital Management Inc. boosted its position in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the second quarter worth $29,000. YHB Investment Advisors Inc. acquired a new stake in shares of Cardinal Health in the first quarter worth $32,000. Finally, LRI Investments LLC acquired a new stake in shares of Cardinal Health in the first quarter worth $32,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Argus lifted their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Robert W. Baird lifted their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Finally, StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $119.36.

Insider Transactions at Cardinal Health

In other news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction dated 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 transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction dated 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 transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated Wednesday, August 21st. The stock was 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 owns 75,971 shares in the company, valued at $8,310,467.69. The disclosure for this sale can be found here. Over the last ninety days, 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

Shares of NYSE:CAH opened at $110.76 on Friday. Cardinal Health, Inc. has a fifty-two week low of $85.82 and a fifty-two week high of $116.05. The business has a 50-day moving average of $104.93 and a two-hundred day moving average of $104.07. 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.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, research analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.506 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. 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%. Cardinal Health’s payout ratio is presently 89.78%.

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.