Cardinal Health, Inc. (NYSE:CAH) Stock Holdings Increased by Achmea Investment Management B.V.

Achmea Investment Management B.V. raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 215,632 shares of the company’s stock after buying an additional 7,253 shares during the period. Achmea Investment Management B.V. owned about 0.09% of Cardinal Health worth $21,201,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CAH. Norges Bank acquired a new position in shares of Cardinal Health in the 4th quarter worth $258,499,000. Acadian Asset Management LLC raised its holdings in Cardinal Health by 19.1% during the 1st 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 during the period. Jupiter Asset Management Ltd. purchased a new stake in Cardinal Health during the first quarter valued at about $56,454,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Cardinal Health by 265.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after buying an additional 477,682 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in shares of Cardinal Health by 1,941.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock worth $46,183,000 after acquiring an additional 435,722 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.9 %

Shares of NYSE:CAH opened at $113.31 on Thursday. The stock has a market capitalization of $27.60 billion, a PE ratio of 50.36, a P/E/G ratio of 1.53 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $85.82 and a 1 year high of $116.05. The firm has a fifty day moving average price of $103.30 and a 200 day moving average price of $104.04.

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 negative return on equity of 54.85% and a net margin of 0.37%. The company had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the prior year, the company posted $1.55 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.6 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio is currently 89.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CAH shares. Wells Fargo & Company raised their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Evercore ISI raised their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. Argus upped their target price on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup reduced their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Finally, Robert W. Baird boosted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $119.36.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction 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 approximately $8,310,467.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cardinal Health 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 value of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is owned by insiders.

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.