Public Employees Retirement Association of Colorado Has $2.47 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Public Employees Retirement Association of Colorado lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,164 shares of the company’s stock after selling 1,432 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Cardinal Health were worth $2,474,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In related news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health 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 completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’s 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 transaction, the insider now directly 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 available through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated 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 directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is owned by insiders.

Cardinal Health Stock Up 0.0 %

CAH opened at $111.87 on Tuesday. Cardinal Health, Inc. has a 12-month low of $85.82 and a 12-month high of $116.05. The business has a 50 day moving average of $105.98 and a 200-day moving average of $103.99. The stock has a market cap of $27.25 billion, a price-to-earnings ratio of 49.72, a PEG 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 (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 EPS. As a group, analysts expect that Cardinal Health, Inc. will post 7.61 earnings per share 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%. 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 currently 89.78%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CAH shares. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. UBS Group boosted their target price on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. One equities 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.