First National Trust Co Sells 309 Shares of Cardinal Health, Inc. (NYSE:CAH)

First National Trust Co lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.7% in the third quarter, Holdings Channel.com reports. The fund owned 42,642 shares of the company’s stock after selling 309 shares during the period. First National Trust Co’s holdings in Cardinal Health were worth $4,713,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CAH. Paragon Capital Management Inc. increased its position in Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after buying an additional 99 shares in the last quarter. Midland Wealth Advisors LLC boosted its stake in shares of Cardinal Health by 4.2% in the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after buying an additional 100 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of Cardinal Health by 5.1% in the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after acquiring an additional 100 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Cardinal Health by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after purchasing an additional 100 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of Cardinal Health by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock valued at $1,125,000 after buying an additional 103 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAH has been the subject of several recent analyst reports. Mizuho upped their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Company upped their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Citigroup decreased their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Evercore ISI boosted their price target on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Finally, StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Trading Up 0.9 %

Shares of CAH opened at $121.64 on Tuesday. The company’s fifty day simple moving average is $112.40 and its 200-day simple moving average is $104.67. The company has a market cap of $29.44 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.50 and a beta of 0.60. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $123.18.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same period last year, the company earned $1.73 EPS. Cardinal Health’s quarterly revenue was down 4.3% compared to the same quarter last year. Analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.66%. Cardinal Health’s payout ratio is 39.30%.

Insider Buying and Selling

In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction 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 in the company, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health 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 transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 over the last quarter. 0.09% of the stock is owned by corporate insiders.

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.