Arjuna Capital Trims Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Arjuna Capital cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,284 shares of the company’s stock after selling 244 shares during the period. Arjuna Capital’s holdings in Cardinal Health were worth $2,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAH. Avantax Advisory Services Inc. raised its stake in shares of Cardinal Health by 23.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 20,061 shares of the company’s stock worth $2,245,000 after buying an additional 3,773 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Cardinal Health during the 1st quarter worth approximately $917,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Cardinal Health by 1.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company’s stock worth $44,016,000 after buying an additional 6,752 shares in the last quarter. Eagle Bay Advisors LLC grew its holdings in shares of Cardinal Health by 48.4% in the 1st quarter. Eagle Bay Advisors LLC now owns 944 shares of the company’s stock worth $106,000 after acquiring an additional 308 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Cardinal Health by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock worth $35,160,000 after acquiring an additional 15,663 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 0.0 %

Shares of CAH stock traded down $0.03 during mid-day trading on Wednesday, hitting $123.48. 383,909 shares of the company’s stock were exchanged, compared to its average volume of 2,087,066. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $125.41. The stock has a 50-day simple moving average of $112.58 and a two-hundred day simple moving average of $104.81. The stock has a market cap of $29.88 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 1.52 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted 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. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Insider Transactions at Cardinal Health

In related news, CEO Jason M. Hollar sold 46,455 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 46,455 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $109.02, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 over the last quarter. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barclays upped their price target on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Argus upped their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Evercore ISI upped 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. Finally, Robert W. Baird upped their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

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.