Cardinal Health, Inc. (NYSE:CAH) Stock Position Reduced by Leuthold Group LLC

Leuthold Group LLC decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.7% in the third quarter, Holdings Channel reports. The institutional investor owned 68,721 shares of the company’s stock after selling 1,938 shares during the quarter. Leuthold Group LLC’s holdings in Cardinal Health were worth $7,595,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in shares of Cardinal Health by 3.5% in the third quarter. State of Alaska Department of Revenue now owns 57,506 shares of the company’s stock worth $6,354,000 after acquiring an additional 1,920 shares during the last quarter. Valley National Advisers Inc. grew its stake in Cardinal Health by 15,535.6% in the third quarter. Valley National Advisers Inc. now owns 15,792 shares of the company’s stock valued at $1,745,000 after purchasing an additional 15,691 shares in the last quarter. GHP Investment Advisors Inc. increased its position in Cardinal Health by 5.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 37,243 shares of the company’s stock worth $4,116,000 after purchasing an additional 2,063 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Cardinal Health by 93.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 46,065 shares of the company’s stock worth $5,091,000 after purchasing an additional 22,267 shares in the last quarter. Finally, Forsta AP Fonden lifted its holdings in shares of Cardinal Health by 2.9% during the 3rd quarter. Forsta AP Fonden now owns 108,700 shares of the company’s stock valued at $12,014,000 after buying an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity

In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now owns 244,091 shares in the company, valued at approximately $26,574,187.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value 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 $8,310,467.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jason M. Hollar sold 26,716 shares of the firm’s stock in a transaction dated 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 owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,963 shares of company stock valued at $12,379,980. Insiders own 0.15% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $110.89 on Monday. The stock has a market capitalization of $27.01 billion, a PE ratio of 49.28, a P/E/G ratio of 1.57 and a beta of 0.60. The stock has a 50-day simple moving average of $111.64 and a 200 day simple moving average of $104.00. Cardinal Health, Inc. has a twelve month low of $90.19 and a twelve month high of $116.05.

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

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.506 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.83%. Cardinal Health’s payout ratio is presently 89.78%.

Analyst Ratings Changes

CAH has been the topic of a number of research reports. Morgan Stanley increased their price objective on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Evercore ISI lifted their price objective 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. JPMorgan Chase & Co. upped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.18.

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.