First United Bank & Trust Cuts Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

by · The Cerbat Gem

First United Bank & Trust lowered its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 46.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 500 shares of the company’s stock after selling 429 shares during the period. First United Bank & Trust’s holdings in Cardinal Health were worth $55,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CAH. Swedbank AB increased its stake in Cardinal Health by 0.3% in the 3rd quarter. Swedbank AB now owns 435,371 shares of the company’s stock valued at $48,117,000 after buying an additional 1,112 shares during the last quarter. Birch Capital Management LLC grew its holdings in shares of Cardinal Health by 27.6% in the third quarter. Birch Capital Management LLC now owns 28,393 shares of the company’s stock valued at $3,138,000 after acquiring an additional 6,138 shares in the last quarter. Occidental Asset Management LLC increased its position in shares of Cardinal Health by 8.6% during the third quarter. Occidental Asset Management LLC now owns 30,771 shares of the company’s stock valued at $3,401,000 after acquiring an additional 2,425 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in Cardinal Health during the third quarter worth $30,820,000. Finally, ORG Wealth Partners LLC purchased a new position in Cardinal Health in the third quarter worth $489,000. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CAH shares. UBS Group lifted their target price on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Argus raised their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI upped their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $119.36.

View Our Latest Report on CAH

Insiders Place Their Bets

In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the transaction, the insider now owns 19,242 shares of the company’s stock, valued at $2,094,491.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 in the last ninety days. 0.15% of the stock is currently owned by insiders.

Cardinal Health Trading Up 0.5 %

Shares of Cardinal Health stock opened at $112.55 on Thursday. The company’s 50-day moving average price is $110.50 and its 200-day moving average price is $103.95. Cardinal Health, Inc. has a 12-month low of $90.19 and a 12-month high of $116.05. The company has a market cap of $27.41 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH – Get Free Report) last posted its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. Cardinal Health’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a yield of 1.80%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, October 1st. Cardinal Health’s payout ratio is presently 89.78%.

Cardinal Health Company 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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