LRI Investments LLC Acquires 564 Shares of Cardinal Health, Inc. (NYSE:CAH)

LRI Investments LLC lifted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 197.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 850 shares of the company’s stock after acquiring an additional 564 shares during the period. LRI Investments LLC’s holdings in Cardinal Health were worth $84,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new stake in Cardinal Health during the 4th quarter valued at approximately $37,393,000. Signaturefd LLC grew its stake in Cardinal Health by 12.8% during the fourth quarter. Signaturefd LLC now owns 2,532 shares of the company’s stock valued at $255,000 after acquiring an additional 288 shares in the last quarter. CWM LLC increased its holdings in Cardinal Health by 121.6% in the 4th quarter. CWM LLC now owns 12,164 shares of the company’s stock valued at $1,226,000 after acquiring an additional 6,675 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Cardinal Health in the 4th quarter worth $135,000. Finally, Alaska Permanent Fund Corp boosted its holdings in shares of Cardinal Health by 38.0% during the 4th quarter. Alaska Permanent Fund Corp now owns 21,095 shares of the company’s stock valued at $2,126,000 after purchasing an additional 5,804 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health 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 in the company, valued at $10,065,447.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock valued at $12,379,980 in the last 90 days. Company insiders own 0.15% of the company’s stock.

Cardinal Health Stock Down 0.9 %

NYSE:CAH traded down $0.99 during mid-day trading on Friday, hitting $109.44. 1,316,016 shares of the stock traded hands, compared to its average volume of 2,130,732. Cardinal Health, Inc. has a 52 week low of $85.44 and a 52 week high of $116.04. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 48.60, a PEG ratio of 1.14 and a beta of 0.61. The firm’s 50 day moving average is $100.39 and its two-hundred day moving average is $103.37.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, research analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.506 dividend. The ex-dividend date is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.85%. Cardinal Health’s dividend payout ratio is presently 89.78%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAH. Morgan Stanley lifted their target price on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Finally, UBS Group increased their price objective on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $118.45.

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.