Asset Management One Co. Ltd. Sells 228 Shares of Cardinal Health, Inc. (NYSE:CAH)

Asset Management One Co. Ltd. decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,530 shares of the company’s stock after selling 228 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Cardinal Health were worth $13,431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CAH. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Cardinal Health by 101.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock worth $36,010,000 after purchasing an additional 161,656 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Cardinal Health by 5.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock worth $35,160,000 after buying an additional 15,663 shares during the last quarter. Alpha Cubed Investments LLC bought a new stake in shares of Cardinal Health in the third quarter valued at approximately $371,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Cardinal Health by 1.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company’s stock worth $44,016,000 after acquiring an additional 6,752 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in Cardinal Health by 38.7% during the first quarter. Bessemer Group Inc. now owns 19,190 shares of the company’s stock worth $2,148,000 after acquiring an additional 5,352 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

NYSE CAH opened at $115.58 on Thursday. The stock’s 50 day simple moving average is $111.86 and its 200 day simple moving average is $104.23. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $119.13. The firm has a market cap of $27.97 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the previous year, the business posted $1.73 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.69 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.75%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CAH shares. Evercore ISI raised their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Wells Fargo & Company upped their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Morgan Stanley lifted their price objective on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Barclays upped their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock worth $12,379,980 in the last quarter. Insiders own 0.09% 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.