Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 33.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,000 shares of the company’s stock after purchasing an additional 15,000 shares during the quarter. Cardinal Health comprises approximately 2.1% of Sivik Global Healthcare LLC’s portfolio, making the stock its 16th biggest position. Sivik Global Healthcare LLC’s holdings in Cardinal Health were worth $5,899,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAH. Clearstead Trust LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health in the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. boosted its holdings in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after acquiring an additional 268 shares during the period. YHB Investment Advisors Inc. acquired a new stake in shares of Cardinal Health in the first quarter valued at approximately $32,000. Finally, LRI Investments LLC acquired a new stake in shares of Cardinal Health in the first quarter valued at approximately $32,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on CAH. Citigroup decreased their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Robert W. Baird upped their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. UBS Group increased their price target on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Evercore ISI increased their price target on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $118.45.

Insider Transactions at Cardinal Health

In other news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health 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 completion of the transaction, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the sale, the chief financial officer now owns 36,867 shares in the company, valued at approximately $4,015,184.97. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the sale, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock valued at $12,379,980 in the last 90 days. 0.15% of the stock is currently owned by insiders.

Cardinal Health Stock Performance

Cardinal Health stock traded up $0.52 during midday trading on Friday, reaching $112.72. The company’s stock had a trading volume of 1,808,485 shares, compared to its average volume of 2,113,432. Cardinal Health, Inc. has a fifty-two week low of $85.82 and a fifty-two week high of $116.04. The stock’s 50 day simple moving average is $101.14 and its 200 day simple moving average is $103.61. The firm has a market capitalization of $27.45 billion, a PE ratio of 50.10, a P/E/G ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The company had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. Equities analysts predict that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 89.78%.

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.