Cardinal Health, Inc. (NYSE:CAH) Stake Boosted by Gladius Capital Management LP

Gladius Capital Management LP grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 23.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,013 shares of the company’s stock after purchasing an additional 1,873 shares during the quarter. Cardinal Health makes up approximately 0.1% of Gladius Capital Management LP’s portfolio, making the stock its 3rd biggest position. Gladius Capital Management LP’s holdings in Cardinal Health were worth $1,107,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Eastern Bank bought a new stake in Cardinal Health in the 3rd quarter worth $25,000. Frazier Financial Advisors LLC grew its stake in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Cultivar Capital Inc. purchased a new position in Cardinal Health during the 2nd quarter valued at about $27,000. Hara Capital LLC bought a new position in Cardinal Health during the 3rd quarter valued at approximately $31,000. Finally, LRI Investments LLC purchased a new stake in Cardinal Health in the 1st quarter worth approximately $32,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Barclays lifted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Finally, Wells Fargo & Company upped their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a 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 issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $123.00.

Insider Buying and Selling

In other news, CEO Jason M. Hollar sold 46,455 shares of the company’s 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 transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at $21,546,276.72. This represents a 19.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the sale, the insider now directly owns 19,242 shares in the company, valued at $2,094,491.70. This trade represents a 17.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,351 shares of company stock worth $7,565,843 in the last three months. Insiders own 0.09% of the company’s stock.

Cardinal Health Trading Down 2.1 %

Cardinal Health stock opened at $118.78 on Friday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.14. The company has a market capitalization of $28.75 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. The business’s fifty day simple moving average is $113.14 and its two-hundred day simple moving average is $105.20.

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

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is currently 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.