Vest Financial LLC Has $42.12 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Vest Financial LLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 19.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 428,365 shares of the company’s stock after buying an additional 69,773 shares during the period. Vest Financial LLC owned 0.18% of Cardinal Health worth $42,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health in the 2nd quarter worth about $27,000. Raleigh Capital Management Inc. raised its stake in shares of Cardinal Health by 4,466.7% in the fourth 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 last quarter. YHB Investment Advisors Inc. bought a new position in shares of Cardinal Health in the first quarter valued at approximately $32,000. LRI Investments LLC purchased a new position in shares of Cardinal Health during the first quarter valued at approximately $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health during the second quarter worth $29,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

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 one year low of $85.82 and a one year high of $116.05. The business’s fifty day moving average price is $103.30 and its 200-day moving average price is $104.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.6 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. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.506 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.79%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 89.78%.

Insider Transactions at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jason M. Hollar sold 46,455 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the 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 directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock valued at $12,379,980 over the last three months. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Citigroup reduced their price objective 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. Argus lifted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird upped their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $119.36.

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.