Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its holdings in Cardinal Health, Inc. (NYSE:CAH) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,988 shares of the company’s stock after selling 1,366 shares during the period. Kentucky Retirement Systems’ holdings in Cardinal Health were worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Eastern Bank acquired a new stake in shares of Cardinal Health in the third quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new stake in Cardinal Health in the 2nd quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the 2nd quarter worth $29,000. Hara Capital LLC purchased a new position in shares of Cardinal Health during the 3rd quarter worth $31,000. Finally, LRI Investments LLC purchased a new stake in shares of Cardinal Health in the first quarter valued at about $32,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Down 2.1 %

Cardinal Health stock opened at $118.78 on Monday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.14. The firm has a market cap of $28.75 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. The company’s 50 day moving average is $113.14 and its two-hundred day moving average is $105.22.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period last year, the firm earned $1.73 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.70%. Cardinal Health’s payout ratio is 39.30%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CAH. Wells Fargo & Company lifted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Barclays lifted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Morgan Stanley increased their price target on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This represents a 17.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is owned by corporate insiders.

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.