Cardinal Health, Inc. $CAH Stock: Fifth Third Bancorp Cuts Position

Fifth Third Bancorp lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 77,636 shares of the company’s stock after selling 4,431 shares during the period. Fifth Third Bancorp’s holdings in Cardinal Health were worth $17,274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in shares of Cardinal Health during the 2nd quarter valued at $308,640,000. First Nebraska Trust Co bought a new position in Cardinal Health in the 2nd quarter worth $20,050,000. Castlekeep Investment Advisors LLC purchased a new position in Cardinal Health during the second quarter valued at $1,177,000. Saudi Central Bank lifted its position in Cardinal Health by 87.8% during the second quarter. Saudi Central Bank now owns 16,472 shares of the company’s stock valued at $3,913,000 after purchasing an additional 7,702 shares in the last quarter. Finally, Nilsine Partners LLC grew its holdings in Cardinal Health by 437.7% during the second quarter. Nilsine Partners LLC now owns 6,049 shares of the company’s stock valued at $1,437,000 after purchasing an additional 4,924 shares during the period. Institutional investors own 87.17% of the company’s stock.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica Mayer sold 29,436 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the transaction, the insider owned 33,076 shares in the company, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mary C. Scherer sold 2,302 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total transaction of $546,471.78. Following the completion of the transaction, the chief accounting officer directly owned 2,811 shares of the company’s stock, valued at approximately $667,303.29. This represents a 45.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 210,271 shares of company stock worth $49,626,657 in the last 90 days. 0.12% of the stock is owned by insiders.

Cardinal Health Stock Performance

CAH opened at $281.55 on Friday. The stock has a market cap of $65.08 billion, a price-to-earnings ratio of 36.42, a P/E/G ratio of 2.13 and a beta of 0.53. The stock’s 50 day moving average price is $244.15 and its 200-day moving average price is $225.24. Cardinal Health, Inc. has a one year low of $180.45 and a one year high of $286.29.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, November 5th. The company reported $3.26 EPS for the quarter, topping the consensus estimate of $2.94 by $0.32. Cardinal Health had a negative return on equity of 102.72% and a net margin of 0.71%. The company had revenue of $67.51 billion for the quarter, compared to the consensus estimate of $66.67 billion. During the same period last year, the business posted $2.55 EPS. Cardinal Health’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, analysts predict that Cardinal Health, Inc. will post 12.97 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be given a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, January 4th. Cardinal Health’s payout ratio is currently 26.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays raised their target price on shares of Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Morgan Stanley upped their price target on shares of Cardinal Health from $265.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. UBS Group increased their price objective on shares of Cardinal Health from $280.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $260.00 to $286.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $279.44.

Cardinal Health Profile

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers. The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations. Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.