Maryland State Retirement & Pension System lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 4.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,695 shares of the company’s stock after selling 908 shares during the period. Maryland State Retirement & Pension System’s holdings in Cardinal Health were worth $1,863,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Cardinal Health by 4.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,535 shares of the company’s stock valued at $14,159,000 after purchasing an additional 7,431 shares during the period. USS Investment Management Ltd grew its position in shares of Cardinal Health by 13.8% during the fourth quarter. USS Investment Management Ltd now owns 89,751 shares of the company’s stock worth $6,899,000 after buying an additional 10,900 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Cardinal Health during the first quarter worth approximately $692,000. Aviva PLC grew its position in shares of Cardinal Health by 23.3% during the fourth quarter. Aviva PLC now owns 261,843 shares of the company’s stock worth $8,670,000 after buying an additional 49,496 shares in the last quarter. Finally, LSV Asset Management grew its position in shares of Cardinal Health by 0.3% during the first quarter. LSV Asset Management now owns 2,456,552 shares of the company’s stock worth $185,470,000 after buying an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 86.01% of the company’s stock.
Cardinal Health Stock Performance
Shares of CAH opened at $89.09 on Friday. Cardinal Health, Inc. has a 1 year low of $64.99 and a 1 year high of $95.45. The company has a market cap of $22.33 billion, a price-to-earnings ratio of 89.99, a price-to-earnings-growth ratio of 0.93 and a beta of 0.79. The firm has a fifty day moving average of $90.01 and a 200-day moving average of $85.23.
Cardinal Health Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Tuesday, October 3rd will be paid a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Monday, October 2nd. Cardinal Health’s dividend payout ratio is currently 202.02%.
Insider Activity at Cardinal Health
In related news, CEO Deborah Weitzman sold 6,712 shares of Cardinal Health stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $89.81, for a total transaction of $602,804.72. Following the sale, the chief executive officer now directly owns 44,202 shares in the company, valued at $3,969,781.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cardinal Health news, CEO Stephen M. Mason sold 37,500 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $87.32, for a total value of $3,274,500.00. Following the sale, the chief executive officer now directly owns 37,355 shares in the company, valued at $3,261,838.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Deborah Weitzman sold 6,712 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $89.81, for a total transaction of $602,804.72. Following the completion of the sale, the chief executive officer now owns 44,202 shares in the company, valued at $3,969,781.62. The disclosure for this sale can be found here. Insiders have sold a total of 95,052 shares of company stock worth $8,401,034 over the last ninety days. 0.17% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
CAH has been the subject of a number of recent analyst reports. TheStreet downgraded shares of Cardinal Health from a “b-” rating to a “c” rating in a research report on Tuesday, August 15th. TD Cowen raised their price target on shares of Cardinal Health from $88.00 to $90.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 16th. Credit Suisse Group raised their price target on shares of Cardinal Health from $90.00 to $100.00 in a research report on Monday, June 12th. Mizuho lifted their price objective on shares of Cardinal Health from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, August 16th. Finally, Robert W. Baird lifted their price objective on shares of Cardinal Health from $107.00 to $108.00 and gave the stock an “outperform” rating in a report on Wednesday, August 16th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cardinal Health has an average rating of “Hold” and a consensus price target of $94.69.
Check Out Our Latest Research Report on CAH
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.
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