KBC Group NV Cuts Stake in Cardinal Health, Inc. (NYSE:CAH)

KBC Group NV lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 25.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 821,062 shares of the company’s stock after selling 280,953 shares during the quarter. KBC Group NV owned about 0.34% of Cardinal Health worth $90,744,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CAH. Eastern Bank bought a new stake in shares of Cardinal Health in the third quarter worth about $25,000. Cultivar Capital Inc. purchased a new position in Cardinal Health during the 2nd quarter valued at approximately $27,000. Hara Capital LLC bought a new stake in Cardinal Health in the 3rd quarter worth approximately $31,000. LRI Investments LLC purchased a new stake in Cardinal Health during the first quarter valued at $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health in the 2nd quarter valued at about $29,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 1.5 %

Shares of CAH stock opened at $125.33 on Thursday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14. The business’s 50 day moving average is $112.81 and its two-hundred day moving average is $104.96. The company has a market capitalization of $30.33 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.54 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. On average, research 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 disclosed 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. This represents a $2.02 annualized dividend and a yield of 1.61%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. UBS Group increased their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Barclays lifted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley raised their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. One investment 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.00.

Insiders Place Their Bets

In other news, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the sale, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the completion of the sale, the chief executive officer now owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 96,067 shares of company stock worth $10,474,413. Corporate 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.