Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Boyd Watterson Asset Management LLC OH

Boyd Watterson Asset Management LLC OH cut its position in Cardinal Health, Inc. (NYSE:CAH) by 18.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 425 shares of the company’s stock after selling 93 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in Cardinal Health were worth $47,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CAH. Eastern Bank purchased a new position in Cardinal Health in the third quarter valued at $25,000. Cultivar Capital Inc. acquired a new stake in Cardinal Health in the second quarter valued at $27,000. LRI Investments LLC purchased a new stake in Cardinal Health during the 1st quarter worth about $32,000. Ashton Thomas Private Wealth LLC purchased a new stake in Cardinal Health during the second quarter worth approximately $29,000. Finally, Palisade Asset Management LLC acquired a new position in shares of Cardinal Health in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CAH shares. Morgan Stanley raised their price target on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Wells Fargo & Company raised their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Finally, Evercore ISI raised their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $120.18.

Cardinal Health Price Performance

NYSE CAH opened at $111.92 on Thursday. The company has a market capitalization of $27.26 billion, a price-to-earnings ratio of 49.74, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The company’s fifty day moving average price is $111.54 and its two-hundred day moving average price is $103.99. Cardinal Health, Inc. has a 12 month low of $90.19 and a 12 month 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, 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 for the quarter, compared to analysts’ expectations of $58.74 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently announced 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 presently 89.78%.

Insider Activity

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. 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. In related news, CFO Aaron E. Alt sold 2,323 shares of the firm’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 transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 over the last three months. Insiders own 0.15% of the company’s stock.

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.