Cardinal Health, Inc. (NYSE:CAH) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 224,134 shares of the company’s stock after selling 3,120 shares during the quarter. New York State Teachers Retirement System’s holdings in Cardinal Health were worth $24,771,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. abrdn plc grew its stake in Cardinal Health by 2.3% in the third quarter. abrdn plc now owns 724,944 shares of the company’s stock worth $79,932,000 after purchasing an additional 16,569 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Cardinal Health by 20.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 98,389 shares of the company’s stock worth $10,874,000 after acquiring an additional 16,820 shares in the last quarter. Inscription Capital LLC increased its holdings in shares of Cardinal Health by 5.3% in the 3rd quarter. Inscription Capital LLC now owns 7,271 shares of the company’s stock valued at $804,000 after acquiring an additional 367 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Cardinal Health by 3.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 57,506 shares of the company’s stock valued at $6,354,000 after acquiring an additional 1,920 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its stake in Cardinal Health by 15,535.6% during the third quarter. Valley National Advisers Inc. now owns 15,792 shares of the company’s stock worth $1,745,000 after purchasing an additional 15,691 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. 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 link. In other news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health 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 transaction, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 over the last three months. Company insiders own 0.09% of the company’s stock.

Cardinal Health Stock Up 0.6 %

Shares of CAH opened at $108.52 on Friday. Cardinal Health, Inc. has a 52-week low of $90.19 and a 52-week high of $116.05. The firm has a market capitalization of $26.26 billion, a PE ratio of 31.36, a P/E/G ratio of 1.57 and a beta of 0.60. The firm has a 50-day moving average price of $111.61 and a 200 day moving average price of $104.13.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned $1.55 earnings per share. On average, equities analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.506 per share. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 annualized dividend and a yield of 1.87%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is currently 58.38%.

Analyst Ratings Changes

Several analysts have weighed in on CAH shares. Deutsche Bank Aktiengesellschaft boosted their target price 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. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 26th. Wells Fargo & Company lifted their target price on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Morgan Stanley increased their price target on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, UBS Group boosted their price objective on Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $120.18.

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.