Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. grew its stake in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 1.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 97,895 shares of the company’s stock after buying an additional 1,650 shares during the period. Cardinal Health makes up 2.4% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Contravisory Investment Management Inc.’s holdings in Cardinal Health were worth $9,258,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Capital Investment Advisors LLC raised its position in shares of Cardinal Health by 94.1% during the second quarter. Capital Investment Advisors LLC now owns 175,024 shares of the company’s stock valued at $16,552,000 after buying an additional 84,846 shares during the last quarter. Kathmere Capital Management LLC increased its stake in Cardinal Health by 36.3% in the second quarter. Kathmere Capital Management LLC now owns 3,671 shares of the company’s stock valued at $347,000 after acquiring an additional 978 shares during the period. Flagship Harbor Advisors LLC increased its stake in Cardinal Health by 7.5% in the second quarter. Flagship Harbor Advisors LLC now owns 5,113 shares of the company’s stock valued at $484,000 after acquiring an additional 357 shares during the period. Gradient Investments LLC increased its stake in Cardinal Health by 106.7% in the second quarter. Gradient Investments LLC now owns 277 shares of the company’s stock valued at $26,000 after acquiring an additional 143 shares during the period. Finally, Kwmg LLC increased its stake in Cardinal Health by 1.4% in the second quarter. Kwmg LLC now owns 141,972 shares of the company’s stock valued at $13,426,000 after acquiring an additional 1,919 shares during the period. Institutional investors and hedge funds own 86.01% of the company’s stock.

Cardinal Health Stock Up 0.3 %

NYSE CAH traded up $0.26 during trading hours on Monday, hitting $88.01. The company’s stock had a trading volume of 847,142 shares, compared to its average volume of 2,359,767. The stock has a fifty day moving average of $90.42 and a 200 day moving average of $84.99. Cardinal Health, Inc. has a twelve month low of $64.99 and a twelve month high of $95.45. The firm has a market capitalization of $22.06 billion, a P/E ratio of 88.84, a PEG ratio of 0.92 and a beta of 0.79.

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

Cardinal Health Announces Dividend

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

Insiders Place Their Bets

In other Cardinal Health news, CEO Deborah Weitzman sold 6,712 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $89.81, for a total value of $602,804.72. Following the sale, the chief executive officer now directly owns 44,202 shares in the company, valued at $3,969,781.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Mary C. Scherer sold 20,695 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 10,649 shares of the company’s stock, valued at $918,689.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Deborah Weitzman sold 6,712 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $89.81, for a total transaction of $602,804.72. Following the sale, the chief executive officer now directly owns 44,202 shares of the company’s stock, valued at approximately $3,969,781.62. The disclosure for this sale can be found here. Over 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.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of analyst reports. Mizuho upped their target price on shares of Cardinal Health from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, August 16th. JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $93.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, August 16th. TD Cowen upped their target price on shares of Cardinal Health from $88.00 to $90.00 and gave the company a “market perform” rating in a research note on Wednesday, August 16th. Robert W. Baird upped their price objective on shares of Cardinal Health from $107.00 to $108.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 16th. Finally, TheStreet cut shares of Cardinal Health from a “b-” rating to a “c” rating in a research note on Tuesday, August 15th. Eight 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $94.69.

Check Out Our Latest Analysis on Cardinal Health

Cardinal Health Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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