First National Trust Co Has $4.71 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

First National Trust Co cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,642 shares of the company’s stock after selling 309 shares during the quarter. First National Trust Co’s holdings in Cardinal Health were worth $4,713,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in Cardinal Health in the second quarter valued at about $90,440,000. Acadian Asset Management LLC raised its position in shares of Cardinal Health by 19.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after acquiring an additional 598,002 shares during the period. Jupiter Asset Management Ltd. bought a new position in Cardinal Health during the 1st quarter worth approximately $56,454,000. Jacobs Levy Equity Management Inc. grew its holdings in Cardinal Health by 265.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock valued at $73,577,000 after purchasing an additional 477,682 shares during the period. Finally, Swedbank AB bought a new stake in Cardinal Health in the first quarter valued at approximately $48,673,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Morgan Stanley boosted their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Robert W. Baird upped their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Barclays lifted their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Evercore ISI upped their price target on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $123.00.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jason M. Hollar sold 46,455 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the transaction, the chief executive officer now owns 197,636 shares in the company, valued at approximately $21,546,276.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were 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 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 have sold 113,963 shares of company stock valued at $12,379,980 over the last ninety days. 0.09% of the stock is owned by company insiders.

Cardinal Health Price Performance

Shares of CAH opened at $121.64 on Tuesday. The company has a market cap of $29.44 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.50 and a beta of 0.60. The firm has a 50 day simple moving average of $112.40 and a two-hundred day simple moving average of $104.67. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $123.18.

Cardinal Health (NYSE:CAH) last released 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. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 earnings per share. On average, analysts expect that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

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.