Gulf International Bank UK Ltd Sells 863 Shares of Cardinal Health, Inc. (NYSE:CAH)

Gulf International Bank UK Ltd lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,865 shares of the company’s stock after selling 863 shares during the period. Gulf International Bank UK Ltd’s holdings in Cardinal Health were worth $1,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Eastern Bank acquired a new stake in shares of Cardinal Health in the third quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $29,000. LRI Investments LLC bought a new position in shares of Cardinal Health in the first quarter valued at $32,000. Finally, New Covenant Trust Company N.A. acquired a new position in Cardinal Health during the first quarter worth $40,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CAH shares. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Barclays raised their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho boosted their target price on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Morgan Stanley raised their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Stock Up 2.1 %

NYSE CAH opened at $115.58 on Thursday. The firm has a 50-day moving average price of $111.86 and a two-hundred day moving average price of $104.23. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $119.13. The company has a market capitalization of $27.97 billion, a P/E ratio of 22.49, a P/E/G ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the previous year, the company posted $1.73 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts expect that Cardinal Health, Inc. will post 7.69 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.75%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Insider Buying and Selling

In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at $21,546,276.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jason M. Hollar sold 46,455 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the sale, the chief executive officer now owns 197,636 shares in the company, valued at approximately $21,546,276.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jason M. Hollar sold 26,716 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the transaction, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. This represents 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 quarter. 0.09% of the stock is owned by company insiders.

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.