Thomasville National Bank Sells 350 Shares of Cardinal Health, Inc. (NYSE:CAH)

Thomasville National Bank lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,233 shares of the company’s stock after selling 350 shares during the quarter. Thomasville National Bank’s holdings in Cardinal Health were worth $799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cultivar Capital Inc. bought a new stake in Cardinal Health during the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. increased its stake in Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after acquiring an additional 268 shares during the last quarter. LRI Investments LLC purchased a new stake in Cardinal Health during the first quarter valued at about $32,000. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health during the second quarter worth about $29,000. Finally, Palisade Asset Management LLC bought a new position in shares of Cardinal Health during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Robert W. Baird increased their price target 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. UBS Group boosted their price target 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. Wells Fargo & Company lifted their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, Citigroup lowered their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Trading Down 1.2 %

NYSE CAH opened at $112.51 on Monday. Cardinal Health, Inc. has a 12 month low of $90.19 and a 12 month high of $116.05. The stock’s fifty day moving average price is $109.72 and its 200-day moving average price is $103.89. The stock has a market cap of $27.40 billion, a P/E ratio of 50.00, a P/E/G ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its 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 net margin of 0.37% and a negative return on equity of 54.85%. The firm had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. As a group, analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share 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 paid a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 annualized dividend and a yield of 1.80%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 89.78%.

Insider Activity

In related news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction that occurred 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 owns 36,867 shares in the company, valued at $4,015,184.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the transaction, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. 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 in the last 90 days. 0.15% of the stock is currently owned by insiders.

Cardinal Health 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.