Verdence Capital Advisors LLC Lowers Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Verdence Capital Advisors LLC cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,400 shares of the company’s stock after selling 3,228 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Cardinal Health were worth $3,139,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Paragon Capital Management Inc. boosted its position in shares of Cardinal Health by 0.7% in the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after purchasing an additional 99 shares during the period. Aptus Capital Advisors LLC boosted its holdings in Cardinal Health by 5.1% in the 2nd 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. Midland Wealth Advisors LLC increased its stake in Cardinal Health by 4.2% in the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after acquiring an additional 100 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of Cardinal Health by 0.9% in the second quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock valued at $1,125,000 after acquiring an additional 103 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Mizuho lifted their target price on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Evercore ISI boosted their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Morgan Stanley raised their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Finally, Wells Fargo & Company raised their price objective 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 investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.09% of the stock is owned by corporate insiders.

Cardinal Health Trading Up 2.0 %

Shares of CAH opened at $120.55 on Friday. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $121.79. The company’s fifty day simple moving average is $112.22 and its 200-day simple moving average is $104.53. The company has a market cap of $29.17 billion, a P/E ratio of 23.45, a P/E/G ratio of 1.39 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 earnings per share. Analysts predict that Cardinal Health, Inc. will post 7.84 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.68%. Cardinal Health’s payout ratio is 39.30%.

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.