4,383 Shares in Cardinal Health, Inc. $CAH Bought by Machina Capital S.A.S.

Machina Capital S.A.S. purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,383 shares of the company’s stock, valued at approximately $975,000.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Cardinal Health in the 2nd quarter valued at $6,293,115,000. Wellington Management Group LLP boosted its stake in Cardinal Health by 247.5% in the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after purchasing an additional 10,584,119 shares during the period. Bank of America Corp DE acquired a new position in Cardinal Health in the 2nd quarter worth $689,066,000. Legal & General Group Plc bought a new position in Cardinal Health during the 2nd quarter worth about $438,870,000. Finally, Bank of New York Mellon Corp bought a new position in Cardinal Health during the 2nd quarter worth about $308,640,000. Institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling at Cardinal Health

In related news, insider Jessica L. Mayer sold 29,436 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the completion of the transaction, the insider directly owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mary C. Scherer sold 2,302 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total value of $546,471.78. Following the completion of the transaction, the chief accounting officer owned 2,811 shares of the company’s stock, valued at approximately $667,303.29. This represents a 45.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 210,271 shares of company stock valued at $49,626,657 in the last ninety days. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings raised Cardinal Health from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Mizuho set a $290.00 price objective on Cardinal Health in a research report on Thursday, November 5th. Argus increased their price objective on Cardinal Health from $264.00 to $309.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley lifted their target price on Cardinal Health from $265.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Finally, Wells Fargo & Company lifted their target price on Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $279.44.

Cardinal Health Trading Up 0.2%

Shares of CAH stock opened at $277.97 on Friday. Cardinal Health, Inc. has a 1 year low of $180.45 and a 1 year high of $286.29. The firm’s fifty day moving average price is $243.50 and its two-hundred day moving average price is $224.91. The firm has a market capitalization of $64.25 billion, a P/E ratio of 35.96, a PEG ratio of 2.13 and a beta of 0.53.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, November 5th. The company reported $3.26 EPS for the quarter, topping the consensus estimate of $2.94 by $0.32. Cardinal Health had a net margin of 0.71% and a negative return on equity of 102.72%. The firm had revenue of $67.51 billion for the quarter, compared to analysts’ expectations of $66.67 billion. During the same period in the previous year, the firm posted $2.55 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 12.96 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, January 4th will be given a $0.5158 dividend. The ex-dividend date of this dividend is Monday, January 4th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.7%. Cardinal Health’s payout ratio is currently 26.65%.

About Cardinal Health

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers. The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations. Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.