Czech National Bank Cuts Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Czech National Bank lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,140 shares of the company’s stock after selling 211 shares during the quarter. Czech National Bank’s holdings in Cardinal Health were worth $2,850,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. boosted its stake in Cardinal Health by 53.6% during the 1st quarter. Panagora Asset Management Inc. now owns 25,616 shares of the company’s stock worth $1,452,000 after purchasing an additional 8,935 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Cardinal Health by 4.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,071 shares of the company’s stock worth $2,102,000 after purchasing an additional 1,702 shares during the last quarter. Cibc World Market Inc. acquired a new stake in Cardinal Health during the 1st quarter worth $212,000. Blair William & Co. IL boosted its stake in Cardinal Health by 6.7% during the 1st quarter. Blair William & Co. IL now owns 11,769 shares of the company’s stock worth $667,000 after purchasing an additional 734 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Cardinal Health by 6.4% during the 1st quarter. Sei Investments Co. now owns 472,799 shares of the company’s stock worth $26,792,000 after purchasing an additional 28,568 shares during the last quarter. Hedge funds and other institutional investors own 86.01% of the company’s stock.

Cardinal Health Stock Performance

CAH stock opened at $88.17 on Tuesday. The company’s 50 day moving average price is $90.31 and its 200 day moving average price is $85.09. Cardinal Health, Inc. has a fifty-two week low of $64.99 and a fifty-two week high of $95.45. The firm has a market capitalization of $22.10 billion, a price-to-earnings ratio of 89.06, a PEG ratio of 0.92 and a beta of 0.79.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 15th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Cardinal Health had a net margin of 0.13% and a negative return on equity of 67.01%. The firm had revenue of $53.45 billion for the quarter, compared to analyst estimates of $52.72 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities analysts forecast that Cardinal Health, Inc. will post 6.65 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Tuesday, October 3rd will be issued a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Monday, October 2nd. Cardinal Health’s dividend payout ratio (DPR) is 202.02%.

Insider Activity at Cardinal Health

In related news, insider Jessica L. Mayer sold 30,145 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $90.84, for a total value of $2,738,371.80. Following the completion of the transaction, the insider now directly owns 95,533 shares of the company’s stock, valued at $8,678,217.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jessica L. Mayer sold 30,145 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $90.84, for a total value of $2,738,371.80. Following the completion of the transaction, the insider now directly owns 95,533 shares of the company’s stock, valued at $8,678,217.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Deborah Weitzman sold 6,712 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $89.81, for a total value of $602,804.72. Following the completion of the transaction, the chief executive officer now directly owns 44,202 shares of the company’s stock, valued at $3,969,781.62. The disclosure for this sale can be found here. Insiders sold 95,052 shares of company stock valued at $8,401,034 over the last three months. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CAH shares. Robert W. Baird boosted their price target on shares of Cardinal Health from $107.00 to $108.00 and gave the company an “outperform” rating in a research report on Wednesday, August 16th. Barclays boosted their price target on shares of Cardinal Health from $80.00 to $85.00 in a research report on Friday, June 9th. Mizuho boosted their price target on shares of Cardinal Health from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 16th. UBS Group boosted their price target on shares of Cardinal Health from $93.00 to $97.00 in a research report on Sunday, June 11th. Finally, Credit Suisse Group boosted their price target on shares of Cardinal Health from $90.00 to $100.00 in a research report on Monday, June 12th. Eight equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $94.69.

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.