CENTRAL TRUST Co Sells 4,600 Shares of Cardinal Health, Inc. (NYSE:CAH)

CENTRAL TRUST Co trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 77.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,365 shares of the company’s stock after selling 4,600 shares during the period. CENTRAL TRUST Co’s holdings in Cardinal Health were worth $151,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in shares of Cardinal Health during the second quarter worth $90,440,000. Acadian Asset Management LLC lifted its holdings in Cardinal Health by 19.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after buying an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Cardinal Health in the 1st quarter valued at about $56,454,000. Jacobs Levy Equity Management Inc. grew its stake in Cardinal Health by 265.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after acquiring an additional 477,682 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Cardinal Health during the first quarter worth approximately $48,673,000. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAH. Morgan Stanley boosted their price target on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Argus raised 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. Citigroup lowered their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Evercore ISI raised their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company upped their price target 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. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.18.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated 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 of the company’s stock, valued at approximately $8,310,467.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Aaron E. Alt sold 2,323 shares of the company’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 completion of the sale, the chief financial officer now owns 36,867 shares in the company, 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. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH stock opened at $110.89 on Monday. The stock’s fifty day moving average price is $111.64 and its 200 day moving average price is $104.00. Cardinal Health, Inc. has a 1-year low of $90.19 and a 1-year high of $116.05. The company has a market cap of $27.01 billion, a price-to-earnings ratio of 49.28, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping 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 business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.61 earnings per share for the current 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 dividend of $0.506 per share. The ex-dividend date was Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.83%. 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.