Cardinal Health (NYSE:CAH) Stock Price Up 2.6%

Cardinal Health, Inc. (NYSE:CAH)’s stock price shot up 2.6% during mid-day trading on Tuesday . The stock traded as high as $115.71 and last traded at $115.68. 518,602 shares were traded during trading, a decline of 75% from the average session volume of 2,103,995 shares. The stock had previously closed at $112.72.

Analyst Ratings Changes

A number of research analysts have issued reports on CAH shares. Argus cut their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Robert W. Baird raised their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Wells Fargo & Company lifted their price target 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, JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.45.

Cardinal Health Trading Down 1.9 %

The company has a market cap of $27.22 billion, a price-to-earnings ratio of 49.89, a PEG ratio of 1.54 and a beta of 0.61. The business’s 50 day moving average price is $101.78 and its 200-day moving average price is $103.80.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The company had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 earnings per share. Equities research analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Insider Activity at Cardinal Health

In other news, 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 transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,963 shares of company stock worth $12,379,980. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Cardinal Health

Several large investors have recently made changes to their positions in CAH. Pacer Advisors Inc. increased its position in 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 purchasing an additional 370,181 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Cardinal Health by 19.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after acquiring an additional 598,002 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Cardinal Health by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock valued at $305,584,000 after acquiring an additional 14,030 shares in the last quarter. Norges Bank bought a new position in Cardinal Health in the fourth quarter valued at about $258,499,000. Finally, ProShare Advisors LLC boosted its stake in shares of Cardinal Health by 5.1% during the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after purchasing an additional 85,247 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

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.