Leuthold Group LLC Sells 631 Shares of Cardinal Health, Inc. (NYSE:CAH)

Leuthold Group LLC reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 70,659 shares of the company’s stock after selling 631 shares during the period. Leuthold Group LLC’s holdings in Cardinal Health were worth $6,947,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MQS Management LLC grew its holdings in shares of Cardinal Health by 54.3% in the 2nd quarter. MQS Management LLC now owns 4,795 shares of the company’s stock valued at $471,000 after acquiring an additional 1,687 shares in the last quarter. XTX Topco Ltd acquired a new position in Cardinal Health during the second quarter valued at approximately $2,469,000. Altrius Capital Management Inc grew its stake in Cardinal Health by 4.3% in the second quarter. Altrius Capital Management Inc now owns 46,781 shares of the company’s stock valued at $4,600,000 after purchasing an additional 1,940 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Cardinal Health by 19.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 9,616 shares of the company’s stock worth $945,000 after purchasing an additional 1,550 shares during the last quarter. Finally, Seven Eight Capital LP raised its stake in shares of Cardinal Health by 26.8% during the 2nd quarter. Seven Eight Capital LP now owns 81,799 shares of the company’s stock worth $8,001,000 after purchasing an additional 17,288 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the transaction, the insider now owns 19,242 shares in the company, valued at approximately $2,094,491.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,963 shares of company stock worth $12,379,980. Corporate insiders own 0.15% of the company’s stock.

Cardinal Health Stock Up 0.1 %

CAH stock opened at $111.40 on Thursday. The company’s 50-day moving average price is $104.62 and its two-hundred day moving average price is $104.02. The firm has a market cap of $27.13 billion, a P/E ratio of 49.51, a P/E/G ratio of 1.55 and a beta of 0.60. Cardinal Health, Inc. has a 12 month low of $85.82 and a 12 month high of $116.05.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.10. The company 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 for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. Equities analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.506 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.82%. Cardinal Health’s dividend payout ratio is presently 89.78%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Robert W. Baird raised their target price 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. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. UBS Group upped their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, Morgan Stanley upped their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $119.36.

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.