NN Investment Partners Holdings N.V. boosted its stake in Cardinal Health Inc (NYSE:CAH) by 30.7% in the third quarter, HoldingsChannel.com reports. The firm owned 90,438 shares of the company’s stock after acquiring an additional 21,250 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Cardinal Health were worth $4,883,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA bought a new stake in Cardinal Health in the 3rd quarter worth approximately $108,000. NEXT Financial Group Inc bought a new stake in shares of Cardinal Health during the 3rd quarter valued at $111,000. First Hawaiian Bank bought a new stake in shares of Cardinal Health during the 3rd quarter valued at $125,000. Sentry Investment Management LLC bought a new stake in shares of Cardinal Health during the 2nd quarter valued at $132,000. Finally, CX Institutional bought a new stake in shares of Cardinal Health during the 2nd quarter valued at $187,000. 90.59% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Cardinal Health from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, August 7th. Argus cut their price objective on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, July 16th. Royal Bank of Canada set a $60.00 price objective on shares of Cardinal Health and gave the company a “hold” rating in a research report on Friday, September 21st. Mizuho reissued a “hold” rating and set a $53.00 price objective on shares of Cardinal Health in a research report on Sunday, August 12th. Finally, Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $61.33.
Shares of CAH stock opened at $51.44 on Friday. Cardinal Health Inc has a 1 year low of $48.14 and a 1 year high of $75.75. The company has a quick ratio of 0.53, a current ratio of 1.07 and a debt-to-equity ratio of 1.32. The firm has a market cap of $15.43 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.62 and a beta of 0.94.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were issued a $0.4763 dividend. The ex-dividend date of this dividend was Friday, September 28th. This represents a $1.91 annualized dividend and a yield of 3.70%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio is currently 38.20%.
In related news, CEO Jon L. Giacomin sold 2,890 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $51.95, for a total value of $150,135.50. Following the completion of the transaction, the chief executive officer now owns 72,652 shares of the company’s stock, valued at approximately $3,774,271.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
Recommended Story: How can you know how many shares are floating?
Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health Inc (NYSE:CAH).
Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.