Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 31.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,919 shares of the company’s stock after selling 68,070 shares during the quarter. Intech Investment Management LLC owned approximately 0.06% of Cardinal Health worth $14,445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CAH. Cultivar Capital Inc. acquired a new position in Cardinal Health in the 2nd quarter valued at $27,000. Raleigh Capital Management Inc. raised 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 valued at $28,000 after buying an additional 268 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of Cardinal Health in the first quarter worth about $32,000. LRI Investments LLC acquired a new position in Cardinal Health during the first quarter worth about $32,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Cardinal Health during the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity

In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the transaction, 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 accessible through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the company’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 sale, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. The disclosure for this sale can be found here. Over the last quarter, 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 Price Performance

Shares of CAH opened at $110.76 on Friday. The firm has a 50-day simple moving average of $104.93 and a two-hundred day simple moving average of $104.07. The stock 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. Cardinal Health, Inc. has a 1-year low of $85.82 and a 1-year high of $116.05.

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

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 89.78%.

Analyst Ratings Changes

CAH has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Morgan Stanley raised their target price on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted 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. Finally, Citigroup cut their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. One 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 stock. Based on data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $119.36.

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.