Forsta AP Fonden Boosts Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Forsta AP Fonden raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,700 shares of the company’s stock after acquiring an additional 3,100 shares during the period. Forsta AP Fonden’s holdings in Cardinal Health were worth $12,014,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Eastern Bank bought a new stake in shares of Cardinal Health in the third quarter worth about $25,000. Cultivar Capital Inc. bought a new stake in Cardinal Health in the 2nd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health in the 2nd quarter worth approximately $29,000. LRI Investments LLC bought a new position in shares of Cardinal Health during the 1st quarter valued at approximately $32,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Cardinal Health in the first quarter valued at $34,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 1.1 %

NYSE:CAH opened at $110.89 on Monday. 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 twelve month low of $90.19 and a twelve month high of $116.05. The stock has a fifty day simple moving average of $111.64 and a 200-day simple moving average of $104.00.

Cardinal Health (NYSE:CAH) last announced 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 company had revenue of $59.87 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $1.55 EPS. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.506 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.83%. 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. Cardinal Health’s dividend payout ratio is currently 89.78%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CAH. Wells Fargo & Company increased their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Robert W. Baird lifted their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, Evercore ISI increased their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $120.18.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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 of the company’s stock, valued at $8,310,467.69. This 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 related news, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction 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 sale, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is currently 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.