3,041 Cardinal Health, Inc. $CAH Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 16.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,001 shares of the company’s stock after selling 3,041 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cardinal Health were worth $3,560,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Pinnacle Associates Ltd. grew its position in Cardinal Health by 2.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,404 shares of the company’s stock worth $312,000 after purchasing an additional 39 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Cardinal Health by 1.4% in the third quarter. Parallel Advisors LLC now owns 3,004 shares of the company’s stock valued at $668,000 after purchasing an additional 41 shares in the last quarter. LWM Advisors Inc. boosted its position in shares of Cardinal Health by 4.4% in the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company’s stock worth $244,000 after buying an additional 43 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Cardinal Health by 2.5% in the second quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the company’s stock worth $426,000 after buying an additional 43 shares during the period. Finally, Raleigh Capital Management Inc. grew its holdings in shares of Cardinal Health by 2.9% during the third quarter. Raleigh Capital Management Inc. now owns 1,541 shares of the company’s stock valued at $343,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CAH. Mizuho set a $290.00 price target on Cardinal Health in a research report on Thursday, November 5th. UBS Group raised their price objective on Cardinal Health from $280.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, October 16th. Wells Fargo & Company raised their price objective on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Leerink Partners set a $292.00 target price on Cardinal Health in a research note on Tuesday, August 11th. Finally, Barclays upped their target price on Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.44.

Cardinal Health Stock Up 1.2%

Shares of NYSE:CAH traded up $3.41 during trading on Friday, reaching $281.55. 1,261,589 shares of the company traded hands, compared to its average volume of 1,807,750. The firm has a fifty day simple moving average of $244.15 and a 200 day simple moving average of $225.24. The firm has a market cap of $65.08 billion, a P/E ratio of 36.42, a price-to-earnings-growth ratio of 2.13 and a beta of 0.53. Cardinal Health, Inc. has a 1-year low of $180.45 and a 1-year high of $286.29.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, November 5th. The company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $67.51 billion for the quarter, compared to the consensus estimate of $66.67 billion. During the same period in the prior year, the business posted $2.55 earnings per share. Cardinal Health’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Cardinal Health, Inc. will post 12.97 EPS for the current year.

Cardinal Health Dividend Announcement

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

Insider Transactions at Cardinal Health

In other Cardinal Health news, insider Jessica Mayer sold 29,436 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total value of $6,952,488.84. Following the transaction, the insider directly owned 33,076 shares of the company’s stock, valued at $7,812,220.44. This represents a 47.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michelle Greene sold 11,650 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the sale, the insider directly owned 10,330 shares of the company’s stock, valued at $2,434,987.60. This trade represents a 53.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 210,271 shares of company stock valued at $49,626,657. Corporate insiders own 0.12% of the company’s stock.

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.