Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,759,299 shares of the company’s stock after buying an additional 85,247 shares during the quarter. ProShare Advisors LLC owned 0.72% of Cardinal Health worth $172,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CAH. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $27,000. Raleigh Capital Management Inc. boosted its position in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Cardinal Health in the second quarter valued at $29,000. YHB Investment Advisors Inc. purchased a new position in shares of Cardinal Health in the first quarter valued at $32,000. Finally, LRI Investments LLC acquired a new position in shares of Cardinal Health during the 1st quarter worth $32,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is available through this hyperlink. In related news, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares in the company, valued at $4,015,184.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health 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 transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The disclosure for this sale can be found here. In the last ninety days, insiders have 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 Trading Up 1.0 %

NYSE CAH opened at $111.84 on Friday. The company has a market capitalization of $27.24 billion, a PE ratio of 49.71, a price-to-earnings-growth ratio of 1.55 and a beta of 0.60. The business’s 50-day moving average price is $105.61 and its 200 day moving average price is $104.05. Cardinal Health, Inc. has a twelve month low of $85.82 and a twelve month high of $116.05.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. During the same period last year, the company earned $1.55 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed 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%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend payout ratio is presently 89.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup lowered their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Argus increased their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley raised their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, Robert W. Baird raised their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Company 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.