Gulf International Bank UK Ltd Has $1.97 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Gulf International Bank UK Ltd decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 17,865 shares of the company’s stock after selling 863 shares during the period. Gulf International Bank UK Ltd’s holdings in Cardinal Health were worth $1,974,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. grew its holdings in shares of Cardinal Health by 83.3% during the third quarter. QRG Capital Management Inc. now owns 30,135 shares of the company’s stock worth $3,331,000 after purchasing an additional 13,697 shares during the last quarter. Vestor Capital LLC boosted its position in Cardinal Health by 197.0% during the 3rd quarter. Vestor Capital LLC now owns 158,508 shares of the company’s stock worth $17,518,000 after buying an additional 105,131 shares during the period. Van ECK Associates Corp grew its holdings in Cardinal Health by 4.9% during the 3rd quarter. Van ECK Associates Corp now owns 31,996 shares of the company’s stock worth $3,581,000 after acquiring an additional 1,507 shares during the last quarter. Confluence Wealth Services Inc. increased its position in Cardinal Health by 2.3% in the 3rd quarter. Confluence Wealth Services Inc. now owns 8,756 shares of the company’s stock valued at $968,000 after acquiring an additional 193 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of Cardinal Health by 1.8% during the third quarter. Janney Montgomery Scott LLC now owns 239,102 shares of the company’s stock valued at $26,426,000 after acquiring an additional 4,209 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 2.1 %

Shares of NYSE CAH opened at $115.58 on Thursday. The firm’s 50-day moving average price is $111.86 and its 200-day moving average price is $104.23. The firm has a market capitalization of $27.97 billion, a P/E ratio of 22.49, a P/E/G ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $119.13.

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 the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. Equities research analysts forecast that Cardinal Health, Inc. will post 7.69 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently disclosed 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. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.75%. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. UBS Group increased their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday. 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. JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, Evercore ISI upped their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Activity

In related news, CEO Jason M. Hollar sold 26,716 shares of the firm’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 transaction, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now directly 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 SEC, which is available through this hyperlink. Also, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction that occurred 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 transaction, the insider now directly owns 19,242 shares in the company, valued at approximately $2,094,491.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock worth $12,379,980 over the last three months. 0.09% of the stock is currently owned by insiders.

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.