Cardinal Health, Inc. (NYSE:CAH) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 20.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,389 shares of the company’s stock after purchasing an additional 16,820 shares during the period. Nisa Investment Advisors LLC’s holdings in Cardinal Health were worth $10,874,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eastern Bank purchased a new position in Cardinal Health during the 3rd quarter worth $25,000. Cultivar Capital Inc. purchased a new position in Cardinal Health during the 2nd quarter worth $27,000. LRI Investments LLC purchased a new position in Cardinal Health during the 1st quarter worth $32,000. Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health during the 2nd quarter worth $29,000. Finally, Palisade Asset Management LLC purchased a new position in Cardinal Health during the 1st quarter worth $34,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling

In related news, insider Jessica L. Mayer sold 16,573 shares of the company’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 owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cardinal Health news, 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 directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is owned by company insiders.

Cardinal Health Stock Down 2.0 %

Shares of CAH stock opened at $107.89 on Thursday. The stock has a market cap of $26.28 billion, a PE ratio of 47.95, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The business has a 50-day simple moving average of $111.65 and a 200-day simple moving average of $104.10. Cardinal Health, Inc. has a 52-week low of $90.19 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last released 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. The company had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. Cardinal Health’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.506 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.88%. Cardinal Health’s dividend payout ratio is presently 89.78%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Robert W. Baird boosted their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. UBS Group boosted their price target on Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 26th. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.18.

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.