Andra AP fonden Sells 92,500 Shares of Cardinal Health, Inc. (NYSE:CAH)

Andra AP fonden lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 32.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 195,700 shares of the company’s stock after selling 92,500 shares during the period. Andra AP fonden owned 0.08% of Cardinal Health worth $19,241,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in shares of Cardinal Health by 19.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after buying an additional 598,002 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Cardinal Health by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock valued at $305,584,000 after purchasing an additional 14,030 shares during the period. Norges Bank purchased a new stake in shares of Cardinal Health during the 4th quarter valued at $258,499,000. Brandes Investment Partners LP grew its position in Cardinal Health by 2.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,221,191 shares of the company’s stock valued at $123,096,000 after buying an additional 28,042 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Cardinal Health by 26.4% during the second quarter. Victory Capital Management Inc. now owns 869,548 shares of the company’s stock worth $85,494,000 after buying an additional 181,617 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.9 %

Shares of NYSE CAH opened at $112.80 on Tuesday. The stock’s 50-day moving average is $102.60 and its 200 day moving average is $103.93. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of 50.13, a P/E/G ratio of 1.53 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.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The company had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 7.6 EPS for the current fiscal 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 paid a $0.506 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 89.78%.

Insiders Place Their Bets

In related news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction 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 transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the 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 sale, 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. Insiders have sold 113,963 shares of company stock valued at $12,379,980 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the subject of several research analyst reports. Evercore ISI raised their price target 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Citigroup lowered their target price 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. Morgan Stanley raised their price target on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, UBS Group lifted their price target on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.45.

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.