Cardinal Health, Inc. (NYSE:CAH) Holdings Trimmed by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,508 shares of the company’s stock after selling 436 shares during the period. Ameritas Investment Partners Inc.’s holdings in Cardinal Health were worth $3,786,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cultivar Capital Inc. purchased a new position in shares of Cardinal Health during the 2nd quarter valued at $27,000. Raleigh Capital Management Inc. grew its holdings 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 acquiring an additional 268 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Cardinal Health during the 2nd quarter valued at $29,000. YHB Investment Advisors Inc. purchased a new position in shares of Cardinal Health during the 1st quarter valued at $32,000. Finally, LRI Investments LLC purchased a new position in shares of Cardinal Health during the 1st quarter valued at $32,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CAH shares. Deutsche Bank Aktiengesellschaft boosted 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. Robert W. Baird lifted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Citigroup reduced 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 note on Friday, July 19th. Evercore ISI lifted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. Finally, Argus lifted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Price Performance

Cardinal Health stock opened at $111.81 on Friday. The firm has a fifty day moving average price of $105.26 and a two-hundred day moving average price of $104.12. The firm has a market cap of $27.23 billion, a price-to-earnings ratio of 49.69, a P/E/G ratio of 1.55 and a beta of 0.60. Cardinal Health, Inc. has a fifty-two week low of $85.82 and a fifty-two week high of $116.05.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 earnings per share. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm 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 $0.506 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.81%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is presently 89.78%.

Insider Activity at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 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 owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 over the last quarter. 0.15% of the stock is 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.