Vanguard Personalized Indexing Management LLC Purchases 316 Shares of Cardinal Health, Inc. (NYSE:CAH)

Vanguard Personalized Indexing Management LLC raised its position in Cardinal Health, Inc. (NYSE:CAH) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 24,580 shares of the company’s stock after acquiring an additional 316 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Cardinal Health were worth $2,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. Acadian Asset Management LLC raised its position in shares of Cardinal Health by 19.1% in the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after buying an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Cardinal Health during the 1st quarter valued at approximately $56,454,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Cardinal Health by 265.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after acquiring an additional 477,682 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Cardinal Health by 1,941.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock worth $46,183,000 after purchasing an additional 435,722 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Cardinal Health during the first quarter valued at approximately $48,673,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CAH shares. Citigroup reduced their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Evercore ISI raised their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Finally, Argus boosted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $119.36.

Cardinal Health Stock Up 0.9 %

Shares of CAH opened at $111.81 on Friday. The business’s 50 day moving average is $105.26 and its two-hundred day moving average is $104.12. The firm has a market cap of $27.23 billion, a price-to-earnings ratio of 49.69, a PEG ratio of 1.55 and a beta of 0.60. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. The firm had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. Cardinal Health’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company 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 announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a yield of 1.81%. Cardinal Health’s payout ratio is presently 89.78%.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Michelle D. Greene sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was 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 directly owns 19,242 shares in the company, valued at $2,094,491.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction 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 transaction, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. 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 three months. Company 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.