Cardinal Health, Inc. (NYSE:CAH) Stock Position Raised by Paragon Capital Management Inc.

Paragon Capital Management Inc. lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,857 shares of the company’s stock after purchasing an additional 99 shares during the period. Paragon Capital Management Inc.’s holdings in Cardinal Health were worth $1,642,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CAH. Tobam raised its holdings in Cardinal Health by 773.4% during the 1st quarter. Tobam now owns 49,111 shares of the company’s stock worth $5,496,000 after buying an additional 43,488 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Cardinal Health by 101.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after acquiring an additional 161,656 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Cardinal Health by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock worth $35,160,000 after purchasing an additional 15,663 shares during the period. Banque Cantonale Vaudoise purchased a new position in Cardinal Health during the 1st quarter worth approximately $3,832,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Cardinal Health by 1.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company’s stock valued at $44,016,000 after purchasing an additional 6,752 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CAH shares. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company upped their target price on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Citigroup decreased their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Evercore ISI upped their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. Finally, StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.36.

Insider Buying and Selling

In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the transaction, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. This trade 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 sold 113,963 shares of company stock valued at $12,379,980. Company insiders own 0.15% of the company’s stock.

Cardinal Health Trading Up 0.5 %

Shares of NYSE:CAH opened at $112.55 on Thursday. The stock has a market capitalization of $27.41 billion, a PE ratio of 50.02, a P/E/G ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $90.19 and a 1 year high of $116.05. The firm has a fifty day moving average price of $110.50 and a 200 day moving average price of $103.95.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (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 company had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the prior year, the company posted $1.55 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.506 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.80%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, October 1st. Cardinal Health’s payout ratio is presently 89.78%.

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.