Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Huntington National Bank

Huntington National Bank lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,792 shares of the company’s stock after buying an additional 100 shares during the period. Huntington National Bank’s holdings in Cardinal Health were worth $1,193,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Eastern Bank acquired a new position in shares of Cardinal Health during the 3rd quarter valued at $25,000. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health during the second quarter worth approximately $27,000. Hara Capital LLC bought a new stake in shares of Cardinal Health in the third quarter worth $31,000. LRI Investments LLC acquired a new stake in Cardinal Health in the first quarter valued at $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health during the 2nd quarter valued at $29,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of CAH opened at $118.78 on Friday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The firm has a fifty day moving average of $113.14 and a 200-day moving average of $105.18. The company has a market cap of $28.75 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 1.56 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same period in the previous year, the business posted $1.73 EPS. Cardinal Health’s revenue was down 4.3% on a year-over-year basis. Analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.70%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Insider Transactions at Cardinal Health

In other news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. This trade represents a 5.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,351 shares of company stock valued at $7,565,843. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CAH has been the subject of several research analyst reports. UBS Group boosted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Citigroup decreased their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Morgan Stanley upped their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Evercore ISI lifted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

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.