Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 17.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,108 shares of the company’s stock after selling 227 shares during the quarter. Sentry Investment Management LLC’s holdings in Cardinal Health were worth $109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal London Asset Management Ltd. lifted its holdings in shares of Cardinal Health by 0.6% in the second quarter. Royal London Asset Management Ltd. now owns 97,675 shares of the company’s stock valued at $9,554,000 after purchasing an additional 545 shares in the last quarter. Global X Japan Co. Ltd. raised its position in shares of Cardinal Health by 3.6% during the 2nd quarter. Global X Japan Co. Ltd. now owns 4,104 shares of the company’s stock worth $404,000 after purchasing an additional 142 shares during the last quarter. Choreo LLC purchased a new stake in Cardinal Health in the 2nd quarter valued at approximately $607,000. PFG Investments LLC grew its holdings in Cardinal Health by 16.4% during the 2nd quarter. PFG Investments LLC now owns 2,224 shares of the company’s stock valued at $219,000 after buying an additional 314 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health during the second quarter worth $29,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 0.9 %

NYSE CAH opened at $112.36 on Friday. Cardinal Health, Inc. has a fifty-two week low of $85.82 and a fifty-two week high of $116.05. The business has a 50 day moving average price of $103.64 and a two-hundred day moving average price of $104.09. The stock has a market cap of $27.37 billion, a PE ratio of 49.94, a P/E/G ratio of 1.53 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results 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. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.6 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.80%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio is 89.78%.

Insiders Place Their Bets

In other news, CEO Jason M. Hollar sold 26,716 shares of the 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 transaction, the chief executive officer now owns 244,091 shares of the company’s stock, valued at $26,574,187.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the sale, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the completion of the transaction, the chief executive officer now owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CAH shares. Morgan Stanley increased their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Evercore ISI lifted their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Robert W. Baird raised their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, Citigroup cut their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.36.

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.