Birch Capital Management LLC Acquires 405 Shares of Cardinal Health, Inc. (NYSE:CAH)

Birch Capital Management LLC grew its holdings in Cardinal Health, Inc. (NYSE:CAH) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,032 shares of the company’s stock after buying an additional 405 shares during the quarter. Cardinal Health makes up 1.1% of Birch Capital Management LLC’s portfolio, making the stock its 28th largest position. Birch Capital Management LLC’s holdings in Cardinal Health were worth $1,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAH. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Cardinal Health by 4.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,535 shares of the company’s stock valued at $14,159,000 after purchasing an additional 7,431 shares during the last quarter. USS Investment Management Ltd lifted its position in Cardinal Health by 13.8% during the 4th quarter. USS Investment Management Ltd now owns 89,751 shares of the company’s stock valued at $6,899,000 after purchasing an additional 10,900 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Cardinal Health during the 1st quarter worth approximately $692,000. Aviva PLC raised its stake in shares of Cardinal Health by 23.3% during the fourth quarter. Aviva PLC now owns 261,843 shares of the company’s stock worth $8,670,000 after buying an additional 49,496 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Cardinal Health by 0.3% in the first quarter. LSV Asset Management now owns 2,456,552 shares of the company’s stock valued at $185,470,000 after acquiring an additional 7,000 shares during the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CEO Deborah Weitzman sold 6,712 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 44,202 shares of the company’s stock, valued at $3,969,781.62. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Cardinal Health news, CEO Deborah Weitzman sold 6,712 shares of Cardinal Health stock in a transaction on Monday, August 28th. The shares were sold at an average price of $89.81, for a total transaction of $602,804.72. Following the completion of the transaction, the chief executive officer now directly owns 44,202 shares of the company’s stock, valued at $3,969,781.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 30,145 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $90.84, for a total transaction of $2,738,371.80. Following the completion of the transaction, the insider now directly owns 95,533 shares in the company, valued at $8,678,217.72. The disclosure for this sale can be found here. Insiders sold a total of 95,052 shares of company stock worth $8,401,034 over the last quarter. 0.17% of the stock is currently owned by insiders.

Cardinal Health Trading Up 0.5 %

Shares of CAH opened at $88.17 on Tuesday. Cardinal Health, Inc. has a 12 month low of $64.99 and a 12 month high of $95.45. The firm has a fifty day simple moving average of $90.31 and a 200 day simple moving average of $85.09. The stock has a market capitalization of $22.10 billion, a price-to-earnings ratio of 89.06, a PEG ratio of 0.92 and a beta of 0.79.

Cardinal Health (NYSE:CAH) 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 negative return on equity of 67.01% and a net margin of 0.13%. The company had revenue of $53.45 billion during the quarter, compared to analysts’ expectations of $52.72 billion. During the same quarter last year, the company earned $1.05 EPS. Cardinal Health’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, research analysts predict that Cardinal Health, Inc. will post 6.65 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Tuesday, October 3rd will be paid a $0.5006 dividend. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $2.00 annualized dividend and a dividend yield of 2.27%. Cardinal Health’s dividend payout ratio is presently 202.02%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CAH shares. Evercore ISI raised their price target on Cardinal Health from $90.00 to $95.00 in a research report on Friday, June 9th. Morgan Stanley increased their price target on shares of Cardinal Health from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 16th. 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. UBS Group increased their target price on shares of Cardinal Health from $93.00 to $97.00 in a report on Sunday, June 11th. Finally, Barclays upped their price objective on shares of Cardinal Health from $80.00 to $85.00 in a research report on Friday, June 9th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cardinal Health currently has an average rating of “Hold” and a consensus target price 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.