GHP Investment Advisors Inc. Raises Stake in Cardinal Health, Inc. (NYSE:CAH)

GHP Investment Advisors Inc. increased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,180 shares of the company’s stock after acquiring an additional 2,500 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Cardinal Health were worth $3,459,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. J. W. Coons Advisors LLC boosted its holdings in shares of Cardinal Health by 0.6% during the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after purchasing an additional 100 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC increased its stake in shares of Cardinal Health by 5.0% during the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after acquiring an additional 100 shares during the last quarter. Midland Wealth Advisors LLC lifted its holdings in shares of Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after acquiring an additional 100 shares during the period. Aptus Capital Advisors LLC boosted its position in shares of Cardinal Health by 5.1% in the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after acquiring an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after purchasing an additional 100 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. UBS Group boosted 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. JPMorgan Chase & Co. raised their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Citigroup decreased their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Morgan Stanley raised their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. 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’s stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $119.36.

Cardinal Health Stock Up 0.7 %

CAH opened at $113.17 on Friday. The firm has a market capitalization of $27.60 billion, a P/E ratio of 50.30, a P/E/G ratio of 1.55 and a beta of 0.60. The firm’s 50 day moving average is $103.98 and its 200-day moving average is $104.11. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.10. The firm 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 firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 EPS. Equities analysts expect that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.506 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.79%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 89.78%.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the sale, the insider now directly owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock worth $12,379,980 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

About Cardinal Health

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.