Occidental Asset Management LLC Has $3.40 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Occidental Asset Management LLC lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,771 shares of the company’s stock after acquiring an additional 2,425 shares during the quarter. Occidental Asset Management LLC’s holdings in Cardinal Health were worth $3,401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new position in shares of Cardinal Health during the 2nd quarter worth approximately $90,440,000. Acadian Asset Management LLC increased its holdings in Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after buying an additional 598,002 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Cardinal Health during the first quarter worth $56,454,000. Jacobs Levy Equity Management Inc. lifted its stake in Cardinal Health by 265.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock valued at $73,577,000 after acquiring an additional 477,682 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Cardinal Health in the 1st quarter valued at about $48,673,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE:CAH opened at $111.94 on Tuesday. The firm has a market cap of $27.26 billion, a price-to-earnings ratio of 49.75, a P/E/G ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 52 week low of $90.19 and a 52 week high of $116.05. The firm’s 50-day simple moving average is $110.00 and its 200 day simple moving average is $103.89.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 earnings per share. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.61 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. Investors of record on Tuesday, October 1st will be given a $0.506 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the firm’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 of the company’s stock, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the business’s stock in a transaction that occurred 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 directly owns 197,636 shares in the company, valued at $21,546,276.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAH. JPMorgan Chase & Co. upped their target price 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. Morgan Stanley raised their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Wells Fargo & Company boosted their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, UBS Group upped their price objective on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.36.

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.