Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 19,833 shares of the company’s stock after selling 260 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Cardinal Health were worth $2,192,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Tobam boosted its stake in shares of Cardinal Health by 773.4% in the first quarter. Tobam now owns 49,111 shares of the company’s stock valued at $5,496,000 after purchasing an additional 43,488 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Cardinal Health by 101.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after acquiring an additional 161,656 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Cardinal Health by 5.2% during the first 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 last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Cardinal Health by 1.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company’s stock valued at $44,016,000 after purchasing an additional 6,752 shares during the last quarter. Finally, Alpha Cubed Investments LLC acquired a new stake in Cardinal Health during the 3rd quarter valued at approximately $371,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity 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 stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. This trade 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 this link. In other news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the business’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 transaction of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The trade was 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. 0.15% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CAH has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Citigroup cut their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Thursday. Argus upped their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company lifted their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Stock Up 0.4 %

CAH stock opened at $112.41 on Friday. The firm’s 50-day simple moving average is $111.00 and its 200 day simple moving average is $103.96. The stock has a market cap of $27.38 billion, a PE ratio of 49.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a fifty-two week low of $90.19 and a fifty-two week 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 analysts’ consensus estimates of $1.74 by $0.10. The company had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 EPS. Equities analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.506 dividend. The ex-dividend date was Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.80%. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

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.