Sivik Global Healthcare LLC Sells 15,000 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sivik Global Healthcare LLC reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 25.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,000 shares of the company’s stock after selling 15,000 shares during the period. Cardinal Health accounts for 2.1% of Sivik Global Healthcare LLC’s portfolio, making the stock its 22nd largest position. Sivik Global Healthcare LLC’s holdings in Cardinal Health were worth $4,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of CAH. Mitsubishi UFJ Trust & Banking Corp grew its position in Cardinal Health by 101.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after purchasing an additional 161,656 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings 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 valued at $35,160,000 after purchasing an additional 15,663 shares in the last quarter. Alpha Cubed Investments LLC bought a new stake in Cardinal Health in the 3rd quarter worth about $371,000. Bessemer Group Inc. raised its position in Cardinal Health by 38.7% in the 1st quarter. Bessemer Group Inc. now owns 19,190 shares of the company’s stock worth $2,148,000 after buying an additional 5,352 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its stake in Cardinal Health by 97.6% during the 1st quarter. Mizuho Markets Americas LLC now owns 95,690 shares of the company’s stock valued at $10,708,000 after acquiring an additional 47,274 shares during the period. 87.17% of the stock is owned by institutional investors.

Cardinal Health Trading Down 0.7 %

Shares of CAH stock traded down $0.87 during trading hours on Thursday, reaching $124.46. 99,135 shares of the stock were exchanged, compared to its average volume of 2,098,263. The firm has a market capitalization of $30.12 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.54 and a beta of 0.60. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14. The company’s 50-day moving average price is $112.81 and its 200-day moving average price is $104.96.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during 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%. Cardinal Health’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $1.73 EPS. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Mizuho increased their price target on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Argus lifted their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Barclays raised their target price on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Citigroup dropped their price objective 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Insider Activity at Cardinal Health

In other news, CEO Jason M. Hollar sold 46,455 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jason M. Hollar sold 46,455 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the sale, the chief executive officer now owns 197,636 shares in the company, valued at approximately $21,546,276.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,067 shares of company stock worth $10,474,413 over the last three months. 0.09% of the stock is owned by corporate insiders.

Cardinal Health 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.