E. Ohman J or Asset Management AB Decreases Holdings in Cardinal Health, Inc. (NYSE:CAH)

E. Ohman J or Asset Management AB decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the company’s stock after selling 1,000 shares during the period. E. Ohman J or Asset Management AB’s holdings in Cardinal Health were worth $1,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in shares of Cardinal Health by 5.2% in the third quarter. Assenagon Asset Management S.A. now owns 10,930 shares of the company’s stock worth $1,208,000 after buying an additional 545 shares during the last quarter. Mason & Associates Inc purchased a new position in shares of Cardinal Health in the third quarter worth $203,000. International Assets Investment Management LLC raised its holdings in shares of Cardinal Health by 59.7% in the third quarter. International Assets Investment Management LLC now owns 248,878 shares of the company’s stock worth $275,060,000 after buying an additional 93,016 shares during the last quarter. Detalus Advisors LLC purchased a new position in shares of Cardinal Health in the third quarter worth $220,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in shares of Cardinal Health in the third quarter worth $1,092,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH stock opened at $110.89 on Friday. The firm’s fifty day moving average is $111.64 and its 200 day moving average is $104.06. Cardinal Health, Inc. has a one year low of $90.19 and a one year high of $116.05. The firm has a market cap of $27.01 billion, a PE ratio of 49.28, a P/E/G ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same quarter last year, the business earned $1.55 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Research analysts predict that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.506 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.83%. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CAH shares. Citigroup decreased their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. UBS Group increased their price objective on shares of Cardinal Health from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley increased their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Argus increased their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. increased 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. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.18.

Insider Activity

In other news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health 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 sale, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was 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. Insiders have sold a total of 113,963 shares of company stock worth $12,379,980 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

Cardinal Health Company 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.