Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Callahan Advisors LLC

Callahan Advisors LLC reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 5.9% in the 3rd quarter, Holdings Channel reports. The firm owned 60,778 shares of the company’s stock after selling 3,830 shares during the quarter. Callahan Advisors LLC’s holdings in Cardinal Health were worth $6,717,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock valued at $12,379,980 over the last quarter. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CAH. UBS Group upped their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday. Barclays upped their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday. Argus upped their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Morgan Stanley increased their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Stock Up 1.1 %

Shares of NYSE CAH opened at $113.18 on Wednesday. The firm’s 50-day moving average price is $111.86 and its two-hundred day moving average price is $104.23. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $119.13. The stock has a market capitalization of $27.39 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its 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 net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the company posted $1.73 earnings per share. Cardinal Health’s revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.69 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.79%. Cardinal Health’s dividend payout ratio is currently 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.