Jupiter Asset Management Ltd. Purchases 67,326 Shares of Cardinal Health, Inc. (NYSE:CAH)

Jupiter Asset Management Ltd. grew its position in Cardinal Health, Inc. (NYSE:CAH) by 13.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 571,828 shares of the company’s stock after acquiring an additional 67,326 shares during the period. Jupiter Asset Management Ltd. owned about 0.23% of Cardinal Health worth $56,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Cardinal Health by 86.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock worth $6,998,000 after buying an additional 32,250 shares during the period. Pinebridge Investments L.P. boosted its holdings in shares of Cardinal Health by 237.7% during the 4th quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock worth $17,290,000 after buying an additional 120,740 shares during the period. Tobam boosted its holdings in shares of Cardinal Health by 773.4% during the 1st quarter. Tobam now owns 49,111 shares of the company’s stock worth $5,496,000 after buying an additional 43,488 shares during the period. Nomura Holdings Inc. boosted its holdings in shares of Cardinal Health by 12.3% during the 4th quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock worth $22,243,000 after buying an additional 24,222 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Cardinal Health by 101.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock worth $36,010,000 after buying an additional 161,656 shares during the period. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CAH. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Robert W. Baird lifted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Morgan Stanley lifted their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Argus lifted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Evercore ISI lifted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.36.

Insider Buying and Selling

In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the transaction, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the transaction, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. 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 the company’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 transaction, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock worth $12,379,980 in the last three months. 0.15% of the stock is owned by corporate insiders.

Cardinal Health Trading Down 0.9 %

Shares of NYSE:CAH opened at $113.31 on Thursday. The firm has a 50 day moving average of $103.30 and a 200-day moving average of $104.04. The stock has a market capitalization of $27.60 billion, a PE ratio of 50.36, a PEG ratio of 1.53 and a beta of 0.60. Cardinal Health, Inc. has a 12 month low of $85.82 and a 12 month high of $116.05.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate 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 net margin of 0.37% and a negative return on equity of 54.85%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 EPS. On average, research analysts predict that Cardinal Health, Inc. will post 7.6 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.79%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio is currently 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.