10,000 Shares in Cardinal Health, Inc. (NYSE:CAH) Acquired by Pensionfund Sabic

Pensionfund Sabic purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $1,105,000.

Other institutional investors also recently modified their holdings of the company. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health in the second quarter valued at about $27,000. Raleigh Capital Management Inc. increased its position in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the period. LRI Investments LLC acquired a new position in shares of Cardinal Health during the first quarter worth approximately $32,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health in the second quarter valued at approximately $29,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Cardinal Health in the first quarter worth $34,000. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the subject of a number of research reports. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Morgan Stanley lifted their price objective on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, Evercore ISI raised their target price on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’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 directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares in the company, valued at $21,546,276.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred on 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 sale, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is currently owned by corporate insiders.

Cardinal Health Trading Down 0.6 %

NYSE CAH opened at $113.84 on Friday. The firm has a market capitalization of $27.73 billion, a P/E ratio of 50.60, a price-to-earnings-growth ratio of 1.33 and a beta of 0.60. The firm’s fifty day moving average price is $109.51 and its two-hundred day moving average price is $103.99. Cardinal Health, Inc. has a 1 year low of $90.19 and a 1 year high of $116.05.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping the consensus estimate 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 company had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same period in the previous year, the company posted $1.55 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.62 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.506 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. 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 1.78%. Cardinal Health’s payout ratio is 89.78%.

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.