Wedge Capital Management L L P NC Invests $30.82 Million in Cardinal Health, Inc. (NYSE:CAH)

Wedge Capital Management L L P NC bought a new position in Cardinal Health, Inc. (NYSE:CAH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 278,860 shares of the company’s stock, valued at approximately $30,820,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $27,000. Raleigh Capital Management Inc. boosted its holdings in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $32,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $29,000. Finally, Palisade Asset Management LLC acquired a new stake in Cardinal Health in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Evercore ISI upped their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, Wells Fargo & Company upped their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.36.

Cardinal Health Trading Down 0.3 %

Shares of NYSE:CAH traded down $0.35 on Monday, reaching $112.16. 354,688 shares of the company’s stock were exchanged, compared to its average volume of 2,088,029. The company has a market capitalization of $27.32 billion, a price-to-earnings ratio of 50.00, a PEG ratio of 1.57 and a beta of 0.60. The company has a fifty day moving average of $109.72 and a 200-day moving average of $103.89. Cardinal Health, Inc. has a twelve month low of $90.19 and a twelve month high of $116.05.

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

Cardinal Health Increases Dividend

The company also recently disclosed 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 is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.80%. Cardinal Health’s payout ratio is currently 89.78%.

Insider Activity at Cardinal Health

In other news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction 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 $26,574,187.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is owned by corporate 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.