Cardinal Health, Inc. (NYSE:CAH) Position Boosted by Birch Capital Management LLC

Birch Capital Management LLC increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 27.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,393 shares of the company’s stock after purchasing an additional 6,138 shares during the quarter. Cardinal Health accounts for 1.5% of Birch Capital Management LLC’s holdings, making the stock its 23rd biggest position. Birch Capital Management LLC’s holdings in Cardinal Health were worth $3,138,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cultivar Capital Inc. bought a new stake in shares of Cardinal Health during the 2nd quarter worth $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in Cardinal Health during the second quarter valued at about $29,000. LRI Investments LLC acquired a new position in shares of Cardinal Health in the first quarter worth about $32,000. Palisade Asset Management LLC purchased a new position in shares of Cardinal Health in the first quarter worth approximately $34,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Cardinal Health in the first quarter worth approximately $40,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CAH. Citigroup lowered their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. UBS Group lifted their price target on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Wells Fargo & Company increased their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Robert W. Baird upped their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, Morgan Stanley increased their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Cardinal Health Trading Up 0.9 %

NYSE:CAH traded up $1.00 during trading hours on Tuesday, hitting $112.92. 475,209 shares of the company traded hands, compared to its average volume of 2,089,462. The stock has a market capitalization of $27.50 billion, a price-to-earnings ratio of 49.75, a P/E/G ratio of 1.57 and a beta of 0.60. The firm has a 50-day moving average of $110.00 and a 200 day moving average of $103.89. Cardinal Health, Inc. has a twelve month low of $90.19 and a twelve month high of $116.05.

Cardinal Health (NYSE:CAH) last released its earnings results 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. The business had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $1.55 earnings per share. Equities research analysts predict that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.506 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

Insiders Place Their Bets

In related 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 value of $435,400.00. Following the sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 over the last 90 days. Corporate insiders own 0.15% 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.