Mediolanum International Funds Ltd Lowers Stake in Cardinal Health, Inc. (NYSE:CAH)

Mediolanum International Funds Ltd trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 22.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 50,853 shares of the company’s stock after selling 14,566 shares during the period. Mediolanum International Funds Ltd’s holdings in Cardinal Health were worth $5,574,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Eastern Bank purchased a new position in shares of Cardinal Health in the 3rd quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new position in Cardinal Health in the 2nd quarter valued at $27,000. LRI Investments LLC acquired a new position in Cardinal Health in the 1st quarter valued at $32,000. Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health during the 2nd quarter worth $29,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Cardinal Health in the 1st quarter worth $34,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Evercore ISI increased their price objective 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. Citigroup reduced 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 note on Friday, July 19th. UBS Group upped their target price on shares of Cardinal Health from $125.00 to $134.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.18.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $110.89 on Friday. Cardinal Health, Inc. has a 1-year low of $90.19 and a 1-year high of $116.05. The company has a market capitalization of $27.01 billion, a PE ratio of 49.28, a P/E/G ratio of 1.57 and a beta of 0.60. The business has a 50-day moving average of $111.64 and a 200-day moving average of $104.03.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $59.87 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. On average, equities analysts expect that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.506 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend 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 presently 89.78%.

Insider Buying and Selling

In other news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the transaction, the chief executive officer now directly owns 197,636 shares in the company, valued at $21,546,276.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,963 shares of company stock worth $12,379,980. Corporate insiders own 0.15% of the company’s stock.

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.