Bridgewater Advisors Inc. Sells 271 Shares of Cardinal Health, Inc. (NYSE:CAH)

Bridgewater Advisors Inc. decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,671 shares of the company’s stock after selling 271 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Cardinal Health were worth $2,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CAH. Eastern Bank bought a new stake in shares of Cardinal Health in the 3rd quarter worth approximately $25,000. Cultivar Capital Inc. bought a new stake in shares of Cardinal Health in the 2nd quarter valued at about $27,000. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health during the 2nd quarter worth approximately $29,000. LRI Investments LLC bought a new stake in Cardinal Health in the first quarter valued at approximately $32,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of Cardinal Health during the first quarter valued at approximately $40,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CAH. JPMorgan Chase & Co. increased 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. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday. Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Morgan Stanley upped their target price on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Citigroup reduced their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Activity

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares in the company, valued at approximately $4,015,184.97. The trade was 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, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The trade was a 0.00 % decrease in their position. 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. Insiders own 0.09% of the company’s stock.

Cardinal Health Trading Up 2.1 %

NYSE CAH opened at $115.58 on Thursday. The stock has a market cap of $27.97 billion, a PE ratio of 22.49, a P/E/G ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $119.13. The stock has a fifty day simple moving average of $111.95 and a 200-day simple moving average of $104.31.

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

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

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.