Sivik Global Healthcare LLC decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 10.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,000 shares of the company’s stock after selling 5,000 shares during the quarter. Cardinal Health comprises about 2.1% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 9th biggest position. Sivik Global Healthcare LLC’s holdings in Cardinal Health were worth $7,560,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Cardinal Health by 3.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,767 shares of the company’s stock worth $297,000 after purchasing an additional 62 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Cardinal Health by 0.4% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 17,805 shares of the company’s stock worth $2,991,000 after purchasing an additional 69 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of Cardinal Health by 3.2% during the second quarter. Perigon Wealth Management LLC now owns 2,314 shares of the company’s stock worth $389,000 after purchasing an additional 72 shares during the last quarter. Community Bank & Trust Waco Texas boosted its holdings in shares of Cardinal Health by 1.3% during the second quarter. Community Bank & Trust Waco Texas now owns 5,598 shares of the company’s stock worth $940,000 after purchasing an additional 74 shares during the last quarter. Finally, Pinnacle Bancorp Inc. boosted its holdings in shares of Cardinal Health by 11.2% during the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company’s stock worth $106,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.
Cardinal Health Price Performance
NYSE:CAH opened at $156.86 on Friday. The business’s 50-day moving average is $152.09 and its two-hundred day moving average is $151.21. Cardinal Health, Inc. has a 12 month low of $106.98 and a 12 month high of $168.44. The firm has a market capitalization of $37.27 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71.
Cardinal Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.5107 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. Cardinal Health’s dividend payout ratio (DPR) is currently 31.63%.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Leerink Partners increased their target price on Cardinal Health from $186.00 to $187.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. UBS Group reaffirmed a “buy” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Robert W. Baird increased their target price on Cardinal Health from $197.00 to $203.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Argus set a $189.00 target price on Cardinal Health in a research report on Friday, August 22nd. Finally, Jefferies Financial Group set a $150.00 target price on Cardinal Health in a research report on Tuesday, August 12th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.00.
Get Our Latest Stock Analysis on Cardinal Health
Insider Activity at Cardinal Health
In other news, CEO Stephen M. Mason sold 41,575 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $6,187,191.50. Following the completion of the sale, the chief executive officer directly owned 26,085 shares in the company, valued at $3,881,969.70. This trade represents a 61.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica L. Mayer sold 38,078 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $5,666,767.96. Following the sale, the insider owned 48,457 shares of the company’s stock, valued at $7,211,370.74. This represents a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 271,676 shares of company stock valued at $40,489,525. 0.12% of the stock is currently owned by insiders.
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.
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