Summit Trail Advisors LLC Has $257,000 Position in Cardinal Health, Inc. (NYSE:CAH)

Summit Trail Advisors LLC boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,617 shares of the company’s stock after buying an additional 247 shares during the period. Summit Trail Advisors LLC’s holdings in Cardinal Health were worth $257,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cultivar Capital Inc. acquired a new stake in Cardinal Health during the second quarter worth $27,000. Raleigh Capital Management Inc. boosted its stake 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 in the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Cardinal Health in the 1st quarter valued at $32,000. LRI Investments LLC acquired a new stake in shares of Cardinal Health in the 1st quarter valued at $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Down 1.5 %

Shares of NYSE:CAH opened at $110.19 on Wednesday. The stock has a market capitalization of $26.84 billion, a P/E ratio of 48.97, 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. The business has a 50-day moving average price of $106.27 and a two-hundred day moving average price of $103.96.

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

Cardinal Health Increases Dividend

The business also recently announced 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 is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s payout ratio is presently 89.78%.

Insider Transactions at Cardinal Health

In other news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CAH shares. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. UBS Group boosted their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price 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. Robert W. Baird boosted their target price 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. Finally, StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.36.

About Cardinal Health

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.