Cardinal Health, Inc. (NYSE:CAH) Stock Holdings Lowered by Impax Asset Management Group plc

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

Other institutional investors have also modified their holdings of the company. Eastern Bank acquired a new stake in Cardinal Health in the third quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in Cardinal Health in the second quarter worth about $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in Cardinal Health in the second quarter worth about $29,000. Hara Capital LLC acquired a new stake in Cardinal Health in the third quarter worth about $31,000. Finally, LRI Investments LLC acquired a new stake in Cardinal Health in the first quarter worth about $32,000. Institutional investors own 87.17% of the company’s stock.

Insider Activity

In related news, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the transaction, the insider now owns 19,242 shares in the company, valued at approximately $2,094,491.70. This represents a 17.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jason M. Hollar sold 46,455 shares of the 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 completion of the transaction, the chief executive officer now owns 197,636 shares in the company, valued at $21,546,276.72. This represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,351 shares of company stock worth $7,565,843 in the last 90 days. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CAH shares. Citigroup reduced their price objective 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. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company 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 report on Monday, November 4th. Finally, Robert W. Baird upped their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Trading Down 2.1 %

CAH stock opened at $118.78 on Friday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The firm has a market capitalization of $28.75 billion, a PE ratio of 23.11, a P/E/G ratio of 1.56 and a beta of 0.60. The firm has a 50-day moving average of $113.14 and a two-hundred day moving average of $105.18.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $1.73 earnings per share. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.70%. Cardinal Health’s dividend 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.