Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 8.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,027 shares of the company’s stock after selling 754 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Cardinal Health were worth $898,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clearstead Trust LLC purchased a new position in shares of Cardinal Health during the 4th quarter valued at approximately $25,000. Raleigh Capital Management Inc. lifted its stake in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in Cardinal Health in the first quarter worth $32,000. Hexagon Capital Partners LLC boosted its holdings in Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Finally, Palisade Asset Management LLC acquired a new position in Cardinal Health in the first quarter worth $34,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.1 %

CAH stock traded down $0.06 on Monday, hitting $98.29. 297,049 shares of the company’s stock traded hands, compared to its average volume of 2,144,250. Cardinal Health, Inc. has a 1-year low of $85.11 and a 1-year high of $116.04. The stock has a market cap of $23.94 billion, a price-to-earnings ratio of 43.71, a P/E/G ratio of 1.08 and a beta of 0.61. The stock has a fifty day moving average of $98.02 and a 200-day moving average of $103.59.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 EPS. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Monday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is 89.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 22nd. Citigroup lowered their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Evercore ISI decreased their target price on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. Wells Fargo & Company decreased their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Finally, Robert W. Baird upped their target price on shares of Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.67.

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.