Beese Fulmer Investment Management Inc. Has $355,000 Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Beese Fulmer Investment Management Inc. reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 13.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,215 shares of the company’s stock after selling 500 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Cardinal Health were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new stake in Cardinal Health during the second quarter valued at $90,440,000. Acadian Asset Management LLC grew its stake in Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after purchasing an additional 598,002 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Cardinal Health in the first quarter worth approximately $56,454,000. Jacobs Levy Equity Management Inc. lifted its stake in Cardinal Health by 265.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock valued at $73,577,000 after buying an additional 477,682 shares during the period. Finally, Swedbank AB bought a new position in shares of Cardinal Health during the 1st quarter worth approximately $48,673,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on CAH shares. UBS Group boosted their target price on shares of Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday. Evercore ISI increased their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Argus increased their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.18.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the sale, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 244,091 shares in the company, valued at approximately $26,574,187.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock valued at $12,379,980. Insiders own 0.15% of the company’s stock.

Cardinal Health Trading Up 0.2 %

NYSE CAH opened at $112.15 on Friday. The firm has a market capitalization of $27.32 billion, a P/E ratio of 49.84, a PEG ratio of 1.57 and a beta of 0.60. The business has a fifty day simple moving average of $111.62 and a 200 day simple moving average of $104.05. Cardinal Health, Inc. has a 12 month low of $90.19 and a 12 month high of $116.05.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.506 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

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.