Creative Planning Cuts Stake in Cardinal Health, Inc. (NYSE:CAH)

Creative Planning cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 21.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,848 shares of the company’s stock after selling 8,916 shares during the quarter. Creative Planning’s holdings in Cardinal Health were worth $3,630,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health during the second quarter worth approximately $27,000. LRI Investments LLC purchased a new stake in shares of Cardinal Health during the 1st quarter worth $32,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cardinal Health during the 2nd quarter worth $29,000. Palisade Asset Management LLC acquired a new position in shares of Cardinal Health during the first quarter worth $34,000. Finally, New Covenant Trust Company N.A. purchased a new position in Cardinal Health in the first quarter valued at $40,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Down 1.1 %

Shares of CAH stock opened at $110.89 on Friday. The stock has a 50 day simple moving average of $111.64 and a 200-day simple moving average of $104.06. The company has a market cap of $27.01 billion, a price-to-earnings ratio of 49.28, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 12-month low of $90.19 and a 12-month high of $116.05.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. Cardinal Health’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 earnings per share. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.506 per share. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.83%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 89.78%.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. Also, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the transaction, the chief executive officer now owns 244,091 shares in the company, valued at approximately $26,574,187.17. 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 three months, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on CAH shares. Robert W. Baird raised their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Wells Fargo & Company increased their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Morgan Stanley lifted their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Citigroup decreased their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday. One equities 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 stock. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.18.

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.