Machina Capital S.A.S. Purchases 4,383 Shares of Cardinal Health, Inc. $CAH

Machina Capital S.A.S. purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 4,383 shares of the company’s stock, valued at approximately $975,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. lifted its stake in Cardinal Health by 19.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 1,133 shares of the company’s stock valued at $252,000 after purchasing an additional 186 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in Cardinal Health by 72.5% during the third quarter. Cornerstone Wealth Management LLC now owns 6,717 shares of the company’s stock worth $1,494,000 after purchasing an additional 2,824 shares during the period. Vestor Capital LLC increased its holdings in shares of Cardinal Health by 6,855.7% during the 3rd quarter. Vestor Capital LLC now owns 61,906 shares of the company’s stock worth $13,774,000 after acquiring an additional 61,016 shares during the last quarter. Kestra Investment Management LLC raised its position in shares of Cardinal Health by 4.4% in the third quarter. Kestra Investment Management LLC now owns 7,606 shares of the company’s stock valued at $1,692,000 after purchasing an additional 318 shares during the period. Finally, AlphaCore Capital LLC lifted its position in Cardinal Health by 52.2% during the third quarter. AlphaCore Capital LLC now owns 7,814 shares of the company’s stock worth $1,739,000 after acquiring an additional 2,680 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of several recent research reports. Weiss Ratings upgraded Cardinal Health from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Barclays lifted their target price on Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Royal Bank Of Canada boosted their target price on shares of Cardinal Health from $276.00 to $295.00 and gave the company an “outperform” rating in a research report on Friday, November 6th. Wells Fargo & Company upped their price target on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, Citigroup raised their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $279.44.

Cardinal Health Stock Performance

NYSE:CAH opened at $277.97 on Friday. The company has a market cap of $64.25 billion, a price-to-earnings ratio of 35.96, a PEG ratio of 2.13 and a beta of 0.53. Cardinal Health, Inc. has a fifty-two week low of $180.45 and a fifty-two week high of $286.29. The stock has a fifty day moving average price of $243.50 and a 200-day moving average price of $224.91.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, November 5th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.32. The company had revenue of $67.51 billion for the quarter, compared to analysts’ expectations of $66.67 billion. Cardinal Health had a negative return on equity of 102.72% and a net margin of 0.71%. Cardinal Health’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $2.55 earnings per share. Research analysts predict that Cardinal Health, Inc. will post 12.96 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

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

Insider Transactions at Cardinal Health

In other news, CEO Deborah Weitzman sold 7,354 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the transaction, the chief executive officer directly owned 77,901 shares in the company, valued at approximately $18,341,790.45. The trade was a 8.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen M. Mason sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the sale, the chief executive officer directly owned 18,061 shares of the company’s stock, valued at approximately $4,269,620.40. This trade represents a 65.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 210,271 shares of company stock worth $49,626,657. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Company 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.