Czech National Bank Buys 3,259 Shares of Cardinal Health, Inc. (NYSE:CAH)

Czech National Bank boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,673 shares of the company’s stock after purchasing an additional 3,259 shares during the quarter. Czech National Bank’s holdings in Cardinal Health were worth $5,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CAH. Cultivar Capital Inc. bought a new position in Cardinal Health in the 2nd quarter worth about $27,000. Raleigh Capital Management Inc. boosted its stake in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health in the 2nd quarter worth about $29,000. LRI Investments LLC bought a new stake in shares of Cardinal Health during the 1st quarter valued at about $32,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Cardinal Health during the 1st quarter valued at about $34,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $113.84 on Friday. The business’s 50 day simple moving average is $109.51 and its two-hundred day simple moving average is $103.99. The stock has a market capitalization of $27.73 billion, a P/E ratio of 50.60, a price-to-earnings-growth ratio of 1.33 and a beta of 0.60. Cardinal Health, Inc. has a one year low of $90.19 and a one year high of $116.05.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 EPS. Sell-side analysts expect that Cardinal Health, Inc. will post 7.62 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.78%. Cardinal Health’s payout ratio is 89.78%.

Insider Activity

In related news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the sale, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred on 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 sale, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,963 shares of company stock valued at $12,379,980. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CAH shares. Wells Fargo & Company lifted their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Robert W. Baird lifted their price target on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Morgan Stanley lifted their price target on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Finally, Evercore ISI lifted their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.36.

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.