Van ECK Associates Corp Grows Position in Cardinal Health, Inc. (NYSE:CAH)

Van ECK Associates Corp grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 31,996 shares of the company’s stock after purchasing an additional 1,507 shares during the period. Van ECK Associates Corp’s holdings in Cardinal Health were worth $3,581,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CAH. Confluence Wealth Services Inc. boosted its stake in shares of Cardinal Health by 2.3% during the third quarter. Confluence Wealth Services Inc. now owns 8,756 shares of the company’s stock valued at $968,000 after purchasing an additional 193 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Cardinal Health by 1.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 239,102 shares of the company’s stock valued at $26,426,000 after purchasing an additional 4,209 shares during the period. Farther Finance Advisors LLC increased its position in shares of Cardinal Health by 3.6% in the third quarter. Farther Finance Advisors LLC now owns 7,435 shares of the company’s stock valued at $822,000 after buying an additional 260 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Cardinal Health during the third quarter worth about $67,000. Finally, Rosenberg Matthew Hamilton boosted its stake in shares of Cardinal Health by 8.9% in the third quarter. Rosenberg Matthew Hamilton now owns 1,770 shares of the company’s stock worth $196,000 after acquiring an additional 145 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Cardinal Health stock opened at $120.56 on Friday. The firm has a 50 day moving average price of $112.22 and a 200 day moving average price of $104.54. The company has a market cap of $29.18 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 1.44 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $121.79.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm’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. Sell-side analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.68%. Cardinal Health’s payout ratio is currently 39.30%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CAH. Argus lifted their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Citigroup decreased their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Morgan Stanley lifted their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. UBS Group increased their price target on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Barclays increased their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Buying and Selling at Cardinal Health

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

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.