Cardinal Health, Inc. (NYSE:CAH) is Gladius Capital Management LP’s 3rd Largest Position

Gladius Capital Management LP boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 23.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,013 shares of the company’s stock after purchasing an additional 1,873 shares during the period. Cardinal Health comprises about 0.1% of Gladius Capital Management LP’s investment 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 quarter.

A number of other large investors have also made changes to their positions in CAH. Eastern Bank bought a new position in shares of Cardinal Health in the 3rd quarter worth approximately $25,000. Cultivar Capital Inc. bought a new position in Cardinal Health in the second quarter worth approximately $27,000. Frazier Financial Advisors LLC boosted its stake in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health during the 2nd quarter valued at $29,000. Finally, Hara Capital LLC purchased a new stake in shares of Cardinal Health in the 3rd quarter worth $31,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAH has been the subject of several recent research reports. Morgan Stanley boosted their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Barclays boosted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Robert W. Baird increased their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Mizuho lifted their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Insider Activity at Cardinal Health

In other news, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction dated 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. The trade was a 17.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the 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 directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,351 shares of company stock valued at $7,565,843 over the last 90 days. 0.09% of the stock is owned by corporate insiders.

Cardinal Health Stock Down 2.1 %

CAH opened at $118.78 on Friday. The company has a market capitalization of $28.75 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. The firm has a 50-day simple moving average of $113.14 and a two-hundred day simple moving average of $105.20. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 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 the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 earnings per share. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm 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 $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 39.30%.

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.