Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 969,521 shares of the company’s stock after acquiring an additional 99,973 shares during the period. Victory Capital Management Inc. owned 0.40% of Cardinal Health worth $107,151,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CAH. Prime Capital Investment Advisors LLC increased its holdings in shares of Cardinal Health by 11.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,618 shares of the company’s stock valued at $510,000 after acquiring an additional 472 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Cardinal Health by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 621,508 shares of the company’s stock valued at $68,689,000 after purchasing an additional 5,600 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Cardinal Health by 24.1% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 16,710 shares of the company’s stock worth $1,847,000 after purchasing an additional 3,247 shares during the period. Patron Partners LLC acquired a new stake in shares of Cardinal Health during the third quarter worth $213,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Cardinal Health by 87.2% in the 3rd quarter. GSA Capital Partners LLP now owns 25,506 shares of the company’s stock valued at $2,819,000 after buying an additional 11,883 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on CAH. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Mizuho increased their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Citigroup reduced their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Barclays increased their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, UBS Group boosted their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” 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 stock. According to MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the sale, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now owns 94,529 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 113,963 shares of company stock worth $12,379,980. Corporate insiders own 0.09% of the company’s stock.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $123.52 on Wednesday. The company has a market capitalization of $29.89 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60. The stock has a fifty day moving average of $112.58 and a 200-day moving average of $104.81. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $125.41.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the business posted $1.73 EPS. Cardinal Health’s revenue was down 4.3% on a year-over-year basis. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.83 EPS 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 paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is 39.30%.

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.