Cardinal Health, Inc. (NYSE:CAH) Position Trimmed by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its holdings in Cardinal Health, Inc. (NYSE:CAH) by 16.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 35,643 shares of the company’s stock after selling 6,882 shares during the quarter. Handelsbanken Fonder AB’s holdings in Cardinal Health were worth $3,939,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirador Capital Partners LP lifted its holdings in Cardinal Health by 4.1% in the third quarter. Mirador Capital Partners LP now owns 12,963 shares of the company’s stock worth $1,433,000 after acquiring an additional 512 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Cardinal Health by 17.7% in the 3rd quarter. Park Avenue Securities LLC now owns 20,783 shares of the company’s stock worth $2,297,000 after purchasing an additional 3,126 shares during the last quarter. Czech National Bank boosted its position in Cardinal Health by 7.0% during the 3rd quarter. Czech National Bank now owns 49,673 shares of the company’s stock valued at $5,490,000 after purchasing an additional 3,259 shares during the period. Park National Corp OH grew its stake in Cardinal Health by 16.7% during the 3rd quarter. Park National Corp OH now owns 101,907 shares of the company’s stock worth $11,263,000 after buying an additional 14,563 shares during the last quarter. Finally, Mattson Financial Services LLC bought a new stake in Cardinal Health in the second quarter valued at $1,118,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on CAH shares. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. UBS Group lifted their price target on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Evercore ISI increased their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted 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, Argus increased their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $119.36.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related 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 value of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now owns 19,242 shares in the company, valued at approximately $2,094,491.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

Cardinal Health Trading Up 0.8 %

Shares of Cardinal Health stock opened at $112.62 on Wednesday. Cardinal Health, Inc. has a 52 week low of $89.39 and a 52 week high of $116.05. The stock has a market cap of $27.43 billion, a PE ratio of 50.05, a price-to-earnings-growth ratio of 1.33 and a beta of 0.60. The company’s 50-day moving average price is $109.02 and its two-hundred day moving average price is $103.85.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 EPS. On average, equities analysts predict that Cardinal Health, Inc. will post 7.62 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.506 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.80%. Cardinal Health’s dividend payout ratio (DPR) 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.