Acadian Asset Management LLC Has $255.14 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Acadian Asset Management LLC trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 30.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,595,359 shares of the company’s stock after selling 1,127,800 shares during the quarter. Cardinal Health makes up 0.8% of Acadian Asset Management LLC’s portfolio, making the stock its 21st biggest position. Acadian Asset Management LLC owned 1.07% of Cardinal Health worth $255,142,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAH. Cultivar Capital Inc. bought a new stake in Cardinal Health in the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. increased its position in shares of Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after buying an additional 268 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in Cardinal Health during the 1st quarter worth $32,000. LRI Investments LLC bought a new position in Cardinal Health during the first quarter worth about $32,000. Finally, Palisade Asset Management LLC acquired a new position in Cardinal Health in the first quarter valued at about $34,000. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CAH. JPMorgan Chase & Co. raised their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Morgan Stanley lifted 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. Evercore ISI upped their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. UBS Group raised their price objective on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Argus lowered their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.45.

Insider Buying and Selling at Cardinal Health

In other news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the sale, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock worth $12,379,980 over the last quarter. 0.15% of the stock is currently owned by insiders.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $111.77 on Friday. The business has a 50-day moving average of $102.29 and a 200-day moving average of $103.90. The stock has a market capitalization of $27.22 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 1.54 and a beta of 0.60. Cardinal Health, Inc. has a fifty-two week low of $85.82 and a fifty-two week high of $116.05.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same period last year, the company earned $1.55 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders 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. This represents a $2.02 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend payout ratio is 89.78%.

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.