Cardinal Health, Inc. (NYSE:CAH) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 6.4% during the 2nd quarter, Holdings Channel reports. The firm owned 227,254 shares of the company’s stock after selling 15,639 shares during the quarter. New York State Teachers Retirement System’s holdings in Cardinal Health were worth $22,344,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Mather Group LLC. boosted its holdings in Cardinal Health by 2.5% in the 4th quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock worth $673,000 after buying an additional 164 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Cardinal Health by 86.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock worth $6,998,000 after purchasing an additional 32,250 shares in the last quarter. Pinebridge Investments L.P. increased its position in shares of Cardinal Health by 237.7% during the fourth quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock worth $17,290,000 after purchasing an additional 120,740 shares in the last quarter. Tobam raised its stake in Cardinal Health by 773.4% in the 1st quarter. Tobam now owns 49,111 shares of the company’s stock valued at $5,496,000 after purchasing an additional 43,488 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its holdings in Cardinal Health by 12.3% in the 4th quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock valued at $22,243,000 after purchasing an additional 24,222 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Morgan Stanley upped their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. UBS Group raised their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped 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, StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $118.45.

Insider Buying and Selling at Cardinal Health

In related news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated 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 approximately $10,065,447.92. The transaction was disclosed in a filing with the SEC, which is available 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction 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 completion of the transaction, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 over the last quarter. 0.15% of the stock is owned by company insiders.

Cardinal Health Stock Down 0.6 %

NYSE:CAH traded down $0.66 on Friday, reaching $109.77. The company’s stock had a trading volume of 533,664 shares, compared to its average volume of 2,125,934. Cardinal Health, Inc. has a 12-month low of $85.44 and a 12-month high of $116.04. The stock has a 50 day moving average price of $100.21 and a 200 day moving average price of $103.33. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of 48.86, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same period last year, the company earned $1.55 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts expect that Cardinal Health, Inc. will post 7.35 EPS 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. Investors of record on Tuesday, October 1st will be issued a $0.506 dividend. This represents a $2.02 annualized dividend and a yield of 1.84%. The ex-dividend date is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

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.