Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Mount Lucas Management LP

Mount Lucas Management LP lifted its position in Cardinal Health, Inc. (NYSE:CAH) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,530 shares of the company’s stock after acquiring an additional 129 shares during the period. Mount Lucas Management LP’s holdings in Cardinal Health were worth $501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC purchased a new position in shares of Cardinal Health in the first quarter worth about $593,000. TIAA Trust National Association acquired a new stake in Cardinal Health during the 1st quarter valued at approximately $210,000. Edgestream Partners L.P. boosted its holdings in shares of Cardinal Health by 723.6% in the 1st quarter. Edgestream Partners L.P. now owns 22,922 shares of the company’s stock valued at $2,565,000 after acquiring an additional 20,139 shares during the last quarter. Covestor Ltd increased its stake in shares of Cardinal Health by 62.3% in the first quarter. Covestor Ltd now owns 443 shares of the company’s stock worth $50,000 after acquiring an additional 170 shares during the period. Finally, Bahl & Gaynor Inc. purchased a new position in shares of Cardinal Health during the first quarter worth $429,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH opened at $118.78 on Monday. The stock has a 50 day moving average price of $113.14 and a 200 day moving average price of $105.22. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The stock has a market capitalization of $28.75 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 earnings per share. On average, analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.70%. Cardinal Health’s dividend payout ratio is presently 39.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CAH shares. Barclays boosted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Morgan Stanley boosted their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Mizuho boosted their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Insider Buying and Selling

In other news, insider Jessica L. Mayer sold 16,573 shares of the business’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 owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The trade was a 17.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.

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.