Hartford Investment Management Co. Sells 180 Shares of Cardinal Health, Inc. (NYSE:CAH)

Hartford Investment Management Co. decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,389 shares of the company’s stock after selling 180 shares during the period. Hartford Investment Management Co.’s holdings in Cardinal Health were worth $1,701,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Eastern Bank bought a new stake in Cardinal Health in the 3rd quarter valued at $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health in the second quarter valued at about $27,000. LRI Investments LLC acquired a new stake in shares of Cardinal Health during the 1st quarter worth about $32,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health during the 2nd quarter worth about $29,000. Finally, Palisade Asset Management LLC acquired a new position in Cardinal Health in the 1st quarter valued at about $34,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Argus boosted their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Citigroup cut their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Evercore ISI raised their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.18.

Insider Activity

In other news, CEO Jason M. Hollar sold 26,716 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now directly owns 244,091 shares in the company, valued at $26,574,187.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the transaction, the chief executive officer now owns 244,091 shares in the company, valued at approximately $26,574,187.17. This represents 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 business’s stock in a transaction that occurred 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 owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,963 shares of company stock worth $12,379,980. Company insiders own 0.15% of the company’s stock.

Cardinal Health Trading Up 0.2 %

CAH stock opened at $112.15 on Friday. The firm has a market cap of $27.32 billion, a PE ratio of 49.84, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The stock has a 50-day moving average price of $111.62 and a 200-day moving average price of $104.05. Cardinal Health, Inc. has a 1-year low of $90.19 and a 1-year high of $116.05.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.10. The firm had revenue of $59.87 billion for 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 company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 earnings per share. On average, analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.506 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, October 1st. Cardinal Health’s payout ratio 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.