Cardinal Health, Inc. (NYSE:CAH) Stake Lifted by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC lifted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 33.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 60,000 shares of the company’s stock after purchasing an additional 15,000 shares during the quarter. Cardinal Health makes up 2.1% of Sivik Global Healthcare LLC’s portfolio, making the stock its 16th largest holding. Sivik Global Healthcare LLC’s holdings in Cardinal Health were worth $5,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CAH. Clearstead Trust LLC bought a new position in shares of Cardinal Health in the fourth quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health in the second quarter worth $27,000. Raleigh Capital Management Inc. grew 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 in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Cardinal Health in the first quarter worth $32,000. Finally, LRI Investments LLC bought a new position in shares of Cardinal Health in the first quarter worth $32,000. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the subject of several recent analyst reports. Citigroup decreased their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Morgan Stanley upped their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. UBS Group upped their price objective on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, Argus cut their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $118.45.

Cardinal Health Stock Up 0.5 %

Shares of NYSE CAH traded up $0.52 during mid-day trading on Friday, hitting $112.72. 1,808,485 shares of the company traded hands, compared to its average volume of 2,113,432. Cardinal Health, Inc. has a 1 year low of $85.82 and a 1 year high of $116.04. The stock has a market capitalization of $27.45 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 1.14 and a beta of 0.61. The business has a 50 day moving average of $101.14 and a two-hundred day moving average of $103.61.

Cardinal Health (NYSE:CAH) last announced its earnings results 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 negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same period in the prior year, the business posted $1.55 earnings per share. Cardinal Health’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.80%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio is currently 89.78%.

Insider Activity

In related news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 over the last three months. Insiders own 0.15% of the company’s stock.

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.