Cardinal Health, Inc. $CAH Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,636 shares of the company’s stock after selling 4,431 shares during the quarter. Fifth Third Bancorp’s holdings in Cardinal Health were worth $17,274,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Cardinal Health during the second quarter valued at $6,293,115,000. Wellington Management Group LLP increased its stake in shares of Cardinal Health by 247.5% during the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after purchasing an additional 10,584,119 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Cardinal Health during the 2nd quarter worth about $689,066,000. Legal & General Group Plc acquired a new position in shares of Cardinal Health during the 2nd quarter worth about $438,870,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Cardinal Health during the 2nd quarter worth about $308,640,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Up 1.2%

Shares of CAH opened at $281.55 on Friday. The company has a market capitalization of $65.08 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 2.13 and a beta of 0.53. Cardinal Health, Inc. has a 52-week low of $180.45 and a 52-week high of $286.29. The stock has a 50 day moving average price of $244.15 and a 200 day moving average price of $225.24.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, November 5th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.32. The company had revenue of $67.51 billion during the quarter, compared to the consensus estimate of $66.67 billion. Cardinal Health had a net margin of 0.71% and a negative return on equity of 102.72%. Cardinal Health’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.55 EPS. On average, equities analysts anticipate that Cardinal Health, Inc. will post 12.97 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be issued a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, January 4th. Cardinal Health’s dividend payout ratio (DPR) is 26.65%.

Insider Activity

In other news, CEO Stephen M. Mason sold 35,000 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the completion of the sale, the chief executive officer directly owned 18,061 shares in the company, valued at $4,269,620.40. The trade was a 65.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michelle D. Greene sold 11,650 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the transaction, the insider owned 10,330 shares of the company’s stock, valued at $2,434,987.60. This trade represents a 53.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 210,271 shares of company stock worth $49,626,657 in the last three months. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CAH. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 25th. Mizuho set a $290.00 target price on shares of Cardinal Health in a research note on Thursday, November 5th. Evercore reaffirmed an “outperform” rating and set a $270.00 target price on shares of Cardinal Health in a report on Wednesday, August 12th. Robert W. Baird increased their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company upped their price objective on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $279.44.

About Cardinal Health

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers. The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations. Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.