Hancock Whitney Corp Sells 144,118 Shares of Cardinal Health, Inc. (NYSE:CAH)

Hancock Whitney Corp trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 86.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,846 shares of the company’s stock after selling 144,118 shares during the period. Hancock Whitney Corp’s holdings in Cardinal Health were worth $2,246,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. J. W. Coons Advisors LLC raised its stake in shares of Cardinal Health by 0.6% during the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after acquiring an additional 100 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC boosted its position in Cardinal Health by 5.0% during the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after buying an additional 100 shares during the period. Midland Wealth Advisors LLC boosted its position in Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the period. Aptus Capital Advisors LLC grew its stake in shares of Cardinal Health by 5.1% during the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after buying an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Cardinal Health by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after buying an additional 100 shares during the period. Institutional investors own 87.17% of the company’s stock.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the firm’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 transaction of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock valued at $12,379,980 in the last three months. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CAH shares. UBS Group increased their target price on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Evercore ISI lifted 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. Morgan Stanley upped their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Citigroup cut their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.36.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $111.84 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 $27.24 billion, a P/E ratio of 49.71, a P/E/G ratio of 1.55 and a beta of 0.60. The company’s 50-day moving average is $105.61 and its 200 day moving average is $104.05.

Cardinal Health (NYSE:CAH) last posted its 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 firm had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the prior year, the business earned $1.55 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Research analysts anticipate 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. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. 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 payout ratio is 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.