Vest Financial LLC Raises Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Vest Financial LLC increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 18.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 507,398 shares of the company’s stock after acquiring an additional 79,033 shares during the quarter. Cardinal Health makes up about 1.1% of Vest Financial LLC’s portfolio, making the stock its 22nd biggest holding. Vest Financial LLC owned 0.21% of Cardinal Health worth $56,078,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the business. Paragon Capital Management Inc. grew its holdings in shares of Cardinal Health by 0.7% during the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after buying an additional 99 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC increased its stake in shares of Cardinal Health by 5.0% during the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock worth $234,000 after buying an additional 100 shares during the period. Midland Wealth Advisors LLC increased its stake in shares of Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after buying an additional 100 shares during the period. Aptus Capital Advisors LLC increased its stake in shares of Cardinal Health by 5.1% during the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after buying an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in Cardinal Health by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling at Cardinal Health

In other news, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction dated 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 directly owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction dated 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 directly owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock worth $12,379,980 in the last 90 days. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Evercore ISI increased their price target on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Citigroup reduced their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. UBS Group raised their price target on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company raised their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.36.

Cardinal Health Trading Up 0.4 %

CAH traded up $0.48 during midday trading on Friday, hitting $112.41. The company’s stock had a trading volume of 1,369,588 shares, compared to its average volume of 2,086,768. The firm has a market cap of $27.38 billion, a P/E ratio of 49.96, a PEG ratio of 1.57 and a beta of 0.60. The firm has a 50-day moving average price of $111.00 and a two-hundred day moving average price of $103.96. Cardinal Health, Inc. has a 52-week low of $90.19 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. The company 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 was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.506 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 annualized dividend and a yield of 1.80%. Cardinal Health’s payout ratio is 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.