KBC Group NV Trims Stock Position in Cardinal Health, Inc. (NYSE:CAH)

KBC Group NV cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 25.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 821,062 shares of the company’s stock after selling 280,953 shares during the period. KBC Group NV’s holdings in Cardinal Health were worth $90,744,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Paragon Capital Management Inc. lifted its stake in Cardinal Health by 0.7% during the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after purchasing an additional 99 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in Cardinal Health by 5.1% during the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares in the last quarter. Midland Wealth Advisors LLC lifted its position in shares of Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after buying an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Cardinal Health by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after buying an additional 100 shares in the last quarter. Finally, Huntington National Bank grew its position in shares of Cardinal Health by 0.9% in the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after buying an additional 100 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the sale, the chief executive officer now directly owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at $26,574,187.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the chief executive officer now owns 197,636 shares in the company, valued at $21,546,276.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,067 shares of company stock worth $10,474,413 over the last 90 days. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Barclays boosted their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Mizuho raised their price target on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Argus lifted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Stock Performance

NYSE:CAH opened at $125.33 on Thursday. The stock has a market capitalization of $30.33 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.54 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The stock has a fifty day moving average price of $112.81 and a two-hundred day moving average price of $104.96.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the business earned $1.73 earnings per share. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

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.