Johnson Investment Counsel Inc. Raises Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Johnson Investment Counsel Inc. grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 68.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,804 shares of the company’s stock after acquiring an additional 2,355 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Cardinal Health were worth $549,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Carmel Capital Partners LLC grew its position in Cardinal Health by 2.9% in the 2nd quarter. Carmel Capital Partners LLC now owns 4,034 shares of the company’s stock worth $381,000 after purchasing an additional 113 shares during the period. Veritable L.P. grew its holdings in shares of Cardinal Health by 1.7% in the second quarter. Veritable L.P. now owns 7,150 shares of the company’s stock worth $676,000 after acquiring an additional 119 shares during the period. Measured Wealth Private Client Group LLC increased its position in Cardinal Health by 1.7% during the second quarter. Measured Wealth Private Client Group LLC now owns 7,134 shares of the company’s stock valued at $675,000 after acquiring an additional 120 shares during the last quarter. Community Bank & Trust Waco Texas lifted its holdings in Cardinal Health by 3.3% in the first quarter. Community Bank & Trust Waco Texas now owns 4,021 shares of the company’s stock valued at $304,000 after acquiring an additional 130 shares during the period. Finally, Signaturefd LLC boosted its position in Cardinal Health by 11.7% in the first 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. 86.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAH has been the subject of several research reports. StockNews.com initiated coverage on shares of Cardinal Health in a research report on Thursday, October 5th. They set a “strong-buy” rating for the company. Morgan Stanley increased their price target on shares of Cardinal Health from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 16th. TheStreet upgraded shares of Cardinal Health from a “c” rating to a “b-” rating in a research note on Tuesday, November 14th. Mizuho upped their price objective on Cardinal Health from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 16th. Finally, Evercore ISI lowered their target price on Cardinal Health from $100.00 to $95.00 in a research report on Wednesday, October 11th. Six equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.83.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CEO Deborah Weitzman sold 6,712 shares of the stock in a transaction dated 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 owns 44,202 shares of the company’s stock, valued at approximately $3,969,781.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is currently owned by insiders.

Cardinal Health Stock Up 1.8 %

Shares of Cardinal Health stock opened at $105.26 on Tuesday. Cardinal Health, Inc. has a 52 week low of $68.53 and a 52 week high of $105.81. The stock’s 50-day simple moving average is $93.41 and its 200-day simple moving average is $90.69. The company has a market capitalization of $25.94 billion, a price-to-earnings ratio of 172.56, a PEG ratio of 0.97 and a beta of 0.76.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 3rd. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.33. Cardinal Health had a negative return on equity of 60.27% and a net margin of 0.07%. The company had revenue of $54.76 billion for the quarter, compared to analysts’ expectations of $54.85 billion. During the same period in the previous year, the firm earned $1.20 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, equities analysts expect that Cardinal Health, Inc. will post 6.9 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.5006 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $2.00 annualized dividend and a yield of 1.90%. Cardinal Health’s payout ratio is 327.87%.

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.