Murphy Pohlad Asset Management LLC Reduces Position in Cardinal Health, Inc. (NYSE:CAH)

Murphy Pohlad Asset Management LLC reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 4.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,705 shares of the company’s stock after selling 580 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Cardinal Health were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its stake in shares of Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after buying an additional 370,181 shares in the last quarter. Acadian Asset Management LLC grew its position in Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after acquiring an additional 598,002 shares during the period. Price T Rowe Associates Inc. MD grew its position in Cardinal Health by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock valued at $305,584,000 after acquiring an additional 14,030 shares during the period. ProShare Advisors LLC grew its position in Cardinal Health by 5.1% during the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after acquiring an additional 85,247 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Cardinal Health by 7.1% in the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after buying an additional 111,137 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CAH shares. Citigroup cut their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. JPMorgan Chase & Co. increased their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 26th. UBS Group increased their price objective on Cardinal Health from $125.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Argus increased their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $120.18.

Cardinal Health Trading Up 7.0 %

CAH stock opened at $116.13 on Friday. The stock has a 50-day moving average price of $111.75 and a two-hundred day moving average price of $104.19. The stock has a market cap of $28.10 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $91.14 and a 1 year high of $119.13.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same quarter in the prior year, the company earned $1.55 EPS. The company’s revenue was up 12.1% on a year-over-year basis. On average, analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.506 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 58.38%.

Insider Activity at Cardinal Health

In related 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 sale, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the transaction, the chief executive officer now directly owns 244,091 shares of the company’s stock, valued at $26,574,187.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of the 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 transaction, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. 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. Insiders own 0.09% of the company’s stock.

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.