Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,220 shares of the company’s stock after selling 636 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Cardinal Health were worth $798,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. raised its position in shares of Cardinal Health by 9.9% during the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after acquiring an additional 370,181 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Cardinal Health by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock valued at $305,584,000 after purchasing an additional 14,030 shares during the last quarter. ProShare Advisors LLC raised its holdings in Cardinal Health by 5.1% during the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after purchasing an additional 85,247 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after buying an additional 111,137 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Cardinal Health by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock valued at $158,390,000 after buying an additional 242,608 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the company’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 value of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. This represents a 17.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Cardinal Health Price Performance

NYSE CAH opened at $118.78 on Monday. The business’s 50-day simple moving average is $113.14 and its 200-day simple moving average is $105.22. The firm has a market capitalization of $28.75 billion, a P/E ratio of 23.11, a P/E/G ratio of 1.48 and a beta of 0.60. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data 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 company had revenue of $52.28 billion during 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 business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business 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 dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend 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%.

Analyst Ratings Changes

CAH has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. UBS Group boosted their target price on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley raised their price target on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company boosted their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Finally, Evercore ISI raised their target price 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

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.