Swedbank AB Acquires 1,112 Shares of Cardinal Health, Inc. (NYSE:CAH)

Swedbank AB increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 435,371 shares of the company’s stock after purchasing an additional 1,112 shares during the period. Swedbank AB owned 0.18% of Cardinal Health worth $48,117,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CAH. Virtu Financial LLC purchased a new stake in Cardinal Health during the 4th quarter worth about $244,000. EP Wealth Advisors LLC raised its holdings in shares of Cardinal Health by 70.3% during the 4th quarter. EP Wealth Advisors LLC now owns 5,065 shares of the company’s stock valued at $511,000 after buying an additional 2,091 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Cardinal Health by 107.8% during the 4th quarter. Wellington Management Group LLP now owns 24,348 shares of the company’s stock valued at $2,454,000 after buying an additional 12,631 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Cardinal Health by 39.3% during the 4th quarter. Fisher Asset Management LLC now owns 4,193 shares of the company’s stock valued at $423,000 after buying an additional 1,183 shares in the last quarter. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Cardinal Health during the 4th quarter valued at about $515,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Transactions at Cardinal Health

In other news, 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 value of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock worth $12,379,980 over the last quarter. 0.15% of the stock is currently owned by insiders.

Cardinal Health Trading Up 0.1 %

Shares of NYSE:CAH opened at $112.02 on Wednesday. The stock has a fifty day simple moving average of $110.25 and a two-hundred day simple moving average of $103.89. The stock has a market capitalization of $27.28 billion, a price-to-earnings ratio of 49.79, a PEG ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 12-month low of $90.19 and a 12-month high of $116.05.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share 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 firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.506 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 89.78%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI raised their price target 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. Citigroup reduced their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, Morgan Stanley lifted their price objective on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $119.36.

About Cardinal Health

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.