Impax Asset Management Group plc Cuts Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Impax Asset Management Group plc cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,166 shares of the company’s stock after selling 3,343 shares during the quarter. Impax Asset Management Group plc’s holdings in Cardinal Health were worth $7,534,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAH. Allspring Global Investments Holdings LLC raised its position in Cardinal Health by 379.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 106,105 shares of the company’s stock worth $11,873,000 after acquiring an additional 83,975 shares during the period. Private Advisor Group LLC lifted its stake in Cardinal Health by 13.4% in the first quarter. Private Advisor Group LLC now owns 12,077 shares of the company’s stock valued at $1,350,000 after purchasing an additional 1,428 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Cardinal Health by 34.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,580 shares of the company’s stock worth $9,576,000 after buying an additional 21,801 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Cardinal Health by 42.1% in the first quarter. Whittier Trust Co. now owns 1,208 shares of the company’s stock valued at $135,000 after buying an additional 358 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Cardinal Health by 238.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 9,783 shares of the company’s stock valued at $1,095,000 after buying an additional 6,894 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Up 1.1 %

NYSE:CAH opened at $113.18 on Wednesday. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $119.13. The stock has a market cap of $27.39 billion, a P/E ratio of 22.02, a PEG ratio of 1.57 and a beta of 0.60. The business’s 50-day moving average price is $111.79 and its two-hundred day moving average price is $104.20.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.73 EPS. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.69 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.79%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CAH shares. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Barclays upped their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Wells Fargo & Company lifted their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Insider Activity at Cardinal Health

In other news, CEO Jason M. Hollar sold 26,716 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now directly owns 244,091 shares in the company, valued at approximately $26,574,187.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health stock in a transaction on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the transaction, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the sale, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at $21,546,276.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,963 shares of company stock valued at $12,379,980. Corporate insiders own 0.09% of the company’s stock.

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.