Commerzbank Aktiengesellschaft FI Takes $1.09 Million Position in Cardinal Health, Inc. (NYSE:CAH)

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,876 shares of the company’s stock, valued at approximately $1,092,000.

Other hedge funds also recently bought and sold shares of the company. Tobam lifted its stake in Cardinal Health by 773.4% during the first quarter. Tobam now owns 49,111 shares of the company’s stock valued at $5,496,000 after buying an additional 43,488 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Cardinal Health by 101.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after buying an additional 161,656 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Cardinal Health by 5.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock worth $35,160,000 after purchasing an additional 15,663 shares in the last quarter. Alpha Cubed Investments LLC purchased a new stake in shares of Cardinal Health in the third quarter worth approximately $371,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Cardinal Health by 1.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company’s stock worth $44,016,000 after purchasing an additional 6,752 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $111.92 on Thursday. The stock has a market cap of $27.26 billion, a PE ratio of 49.74, a PEG ratio of 1.57 and a beta of 0.60. The business has a fifty day moving average of $111.42 and a two-hundred day moving average of $103.94. Cardinal Health, Inc. has a 52-week low of $90.19 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same period last year, the business earned $1.55 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Analysts predict that Cardinal Health, Inc. will post 7.61 earnings per share for the current 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 represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, October 1st. Cardinal Health’s payout ratio is currently 89.78%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CAH shares. Wells Fargo & Company increased 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. Evercore ISI increased their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. Argus increased their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. increased their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $120.18.

Insider Activity at Cardinal Health

In related 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 value of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the transaction, the insider now directly owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock valued at $12,379,980 over the last ninety days. 0.15% of the stock is owned by 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.