E. Ohman J or Asset Management AB Trims Stock Position in Cardinal Health, Inc. (NYSE:CAH)

E. Ohman J or Asset Management AB cut its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the company’s stock after selling 1,000 shares during the period. E. Ohman J or Asset Management AB’s holdings in Cardinal Health were worth $1,105,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Eastern Bank purchased a new position in Cardinal Health during the third quarter worth about $25,000. Cultivar Capital Inc. purchased a new position in Cardinal Health during the second quarter worth about $27,000. LRI Investments LLC purchased a new position in Cardinal Health during the first quarter worth about $32,000. Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health during the second quarter worth about $29,000. Finally, Palisade Asset Management LLC purchased a new position in Cardinal Health during the first quarter worth about $34,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Morgan Stanley boosted their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, UBS Group boosted their price target on shares of Cardinal Health from $125.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $120.18.

Cardinal Health Trading Down 1.1 %

Shares of NYSE:CAH opened at $110.89 on Friday. The company has a market capitalization of $27.01 billion, a PE ratio of 49.28, a P/E/G ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a twelve month low of $90.19 and a twelve month high of $116.05. The firm has a 50 day simple moving average of $111.64 and a 200-day simple moving average of $104.06.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 EPS. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 89.78%.

Insider Activity at Cardinal Health

In related news, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the sale, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were 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 owns 94,529 shares in the company, valued at $10,065,447.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the completion of the sale, the insider now owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. This trade 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 worth $12,379,980 in the last 90 days. 0.15% of the stock is owned by insiders.

Cardinal Health Company 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.