IFM Investors Pty Ltd Trims Position in Cardinal Health, Inc. (NYSE:CAH)

IFM Investors Pty Ltd lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,692 shares of the company’s stock after selling 2,171 shares during the quarter. IFM Investors Pty Ltd’s holdings in Cardinal Health were worth $5,050,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mason & Associates Inc purchased a new stake in shares of Cardinal Health in the third quarter valued at $203,000. International Assets Investment Management LLC grew its holdings in Cardinal Health by 59.7% in the 3rd quarter. International Assets Investment Management LLC now owns 248,878 shares of the company’s stock valued at $275,060,000 after buying an additional 93,016 shares during the period. Detalus Advisors LLC acquired a new position in shares of Cardinal Health during the 3rd quarter valued at about $220,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Cardinal Health during the 3rd quarter worth about $1,092,000. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Cardinal Health in the third quarter worth approximately $1,981,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 1.1 %

Shares of CAH stock opened at $110.89 on Friday. Cardinal Health, Inc. has a twelve month low of $90.19 and a twelve month high of $116.05. The company has a market capitalization of $27.01 billion, a PE ratio of 49.28, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The firm has a fifty day simple moving average of $111.64 and a 200-day simple moving average of $104.03.

Cardinal Health (NYSE:CAH) last announced its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.10. The company had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $1.55 earnings per share. Equities research analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.506 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.83%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Insider Buying and Selling

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the 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 transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at $4,015,184.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction that occurred on 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 owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,963 shares of company stock worth $12,379,980. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CAH. Robert W. Baird upped their price target 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. Evercore ISI lifted their target price on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. UBS Group raised their price objective on Cardinal Health from $125.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company raised their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $120.18.

Cardinal Health Company 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.