Capital Investment Advisors LLC Purchases 84,846 Shares of Cardinal Health, Inc. (NYSE:CAH)

Capital Investment Advisors LLC lifted its position in Cardinal Health, Inc. (NYSE:CAH) by 94.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 175,024 shares of the company’s stock after purchasing an additional 84,846 shares during the quarter. Capital Investment Advisors LLC owned 0.07% of Cardinal Health worth $16,552,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Community Bank & Trust Waco Texas grew its holdings in shares of Cardinal Health by 3.3% in the 1st quarter. Community Bank & Trust Waco Texas now owns 4,021 shares of the company’s stock worth $304,000 after purchasing an additional 130 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Cardinal Health by 11.7% in the 1st quarter. Signaturefd LLC now owns 1,252 shares of the company’s stock worth $95,000 after purchasing an additional 131 shares during the last quarter. Gladius Capital Management LP grew its holdings in shares of Cardinal Health by 4.3% in the 1st quarter. Gladius Capital Management LP now owns 3,201 shares of the company’s stock worth $242,000 after purchasing an additional 131 shares during the last quarter. Good Life Advisors LLC grew its holdings in shares of Cardinal Health by 2.9% in the 1st quarter. Good Life Advisors LLC now owns 4,746 shares of the company’s stock worth $358,000 after purchasing an additional 133 shares during the last quarter. Finally, Gradient Investments LLC grew its holdings in shares of Cardinal Health by 106.7% in the 2nd quarter. Gradient Investments LLC now owns 277 shares of the company’s stock worth $26,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 86.01% of the company’s stock.

Cardinal Health Trading Up 0.1 %

Shares of NYSE:CAH traded up $0.05 during mid-day trading on Friday, reaching $87.75. The stock had a trading volume of 4,155,907 shares, compared to its average volume of 2,368,479. The firm has a market cap of $22.00 billion, a PE ratio of 88.64, a price-to-earnings-growth ratio of 0.92 and a beta of 0.79. The firm has a 50 day simple moving average of $90.42 and a two-hundred day simple moving average of $84.93. Cardinal Health, Inc. has a twelve month low of $64.99 and a twelve month high of $95.45.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Tuesday, August 15th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. The business had revenue of $53.45 billion for the quarter, compared to the consensus estimate of $52.72 billion. Cardinal Health had a net margin of 0.13% and a negative return on equity of 67.01%. Cardinal Health’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS. On average, equities analysts anticipate that Cardinal Health, Inc. will post 6.65 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Tuesday, October 3rd will be given a $0.5006 dividend. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. Cardinal Health’s dividend payout ratio is 202.02%.

Insiders Place Their Bets

In other Cardinal Health news, insider Jessica L. Mayer sold 30,145 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $90.84, for a total value of $2,738,371.80. Following the transaction, the insider now owns 95,533 shares of the company’s stock, valued at $8,678,217.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cardinal Health news, insider Jessica L. Mayer sold 30,145 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $90.84, for a total value of $2,738,371.80. Following the transaction, the insider now owns 95,533 shares of the company’s stock, valued at $8,678,217.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mary C. Scherer sold 20,695 shares of Cardinal Health stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $86.27, for a total transaction of $1,785,357.65. Following the completion of the transaction, the chief accounting officer now directly owns 10,649 shares in the company, valued at approximately $918,689.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,052 shares of company stock worth $8,401,034. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the topic of a number of research analyst reports. TheStreet lowered shares of Cardinal Health from a “b-” rating to a “c” rating in a report on Tuesday, August 15th. Bank of America increased their price objective on shares of Cardinal Health from $91.00 to $99.00 in a report on Monday, July 17th. Citigroup increased their price objective on shares of Cardinal Health from $88.00 to $90.00 in a report on Monday, June 12th. Morgan Stanley increased their price objective on shares of Cardinal Health from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $93.00 to $101.00 and gave the stock a “neutral” rating in a report on Wednesday, August 16th. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $94.69.

About Cardinal Health

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.