Asset Management One Co. Ltd. Has $13.43 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Asset Management One Co. Ltd. lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 0.2% in the third quarter, HoldingsChannel reports. The firm owned 121,530 shares of the company’s stock after selling 228 shares during the period. Asset Management One Co. Ltd.’s holdings in Cardinal Health were worth $13,431,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Eastern Bank bought a new stake in shares of Cardinal Health in the 3rd quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in Cardinal Health in the second quarter valued at approximately $27,000. LRI Investments LLC acquired a new stake in Cardinal Health in the first quarter worth $32,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health during the second quarter worth $29,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Cardinal Health in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Activity

In other news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the sale, the chief executive officer now directly owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the sale, the chief executive officer now owns 244,091 shares in the company, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following 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 ownership of the stock. 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 in the last quarter. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday. Argus lifted their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Barclays increased their target price on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company lifted their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Finally, StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $115.58 on Thursday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $119.13. The stock has a market capitalization of $27.97 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.57 and a beta of 0.60. The business has a 50-day moving average of $111.86 and a 200-day moving average of $104.23.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.73 EPS. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.69 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.75%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

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.