Foster & Motley Inc. Buys 1,067 Shares of Cardinal Health, Inc. (NYSE:CAH)

Foster & Motley Inc. increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,141 shares of the company’s stock after buying an additional 1,067 shares during the quarter. Foster & Motley Inc.’s holdings in Cardinal Health were worth $5,542,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CAH. Pacer Advisors Inc. boosted its stake 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 purchasing an additional 370,181 shares during the period. Acadian Asset Management LLC boosted its position in shares of Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after buying an additional 598,002 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Cardinal Health by 0.5% during 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 buying an additional 14,030 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after buying an additional 85,247 shares during the period. Finally, Renaissance Technologies LLC lifted its stake 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 acquiring an additional 111,137 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CAH shares. Argus upped their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Citigroup cut their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Barclays lifted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, Evercore ISI lifted their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Stock Down 0.2 %

Cardinal Health stock opened at $113.00 on Wednesday. The firm has a market cap of $27.34 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.57 and a beta of 0.60. The business has a fifty day moving average of $111.86 and a two-hundred day moving average of $104.23. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $119.13.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share 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 analysts’ expectations of $50.90 billion. During the same period in the prior year, the business posted $1.73 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts expect that Cardinal Health, Inc. will post 7.69 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 1.79%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Insider Transactions at Cardinal Health

In related news, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at $26,574,187.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other 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 transaction of $2,908,570.92. Following the transaction, the chief executive officer now directly owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michelle D. Greene sold 4,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the sale, the insider now directly owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The trade was 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 in the last 90 days. Insiders own 0.09% of the company’s stock.

Cardinal Health 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.