Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. raised its stake in Cardinal Health, Inc. (NYSE:CAHGet Rating) by 17.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,395 shares of the company’s stock after purchasing an additional 661 shares during the period. Cibc World Market Inc.’s holdings in Cardinal Health were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CFS Investment Advisory Services LLC grew its stake in shares of Cardinal Health by 6,455.0% during the first quarter. CFS Investment Advisory Services LLC now owns 1,513,493 shares of the company’s stock worth $27,000 after purchasing an additional 1,490,404 shares in the last quarter. LS Investment Advisors LLC purchased a new position in shares of Cardinal Health in the 2nd quarter valued at about $27,000. Manchester Capital Management LLC raised its position in shares of Cardinal Health by 60.4% during the 1st quarter. Manchester Capital Management LLC now owns 494 shares of the company’s stock worth $28,000 after acquiring an additional 186 shares in the last quarter. CX Institutional purchased a new stake in Cardinal Health during the second quarter worth approximately $33,000. Finally, Retirement Group LLC boosted its holdings in Cardinal Health by 100.0% in the second quarter. Retirement Group LLC now owns 862 shares of the company’s stock valued at $45,000 after purchasing an additional 431 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Ola M. Snow sold 19,590 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $78.87, for a total value of $1,545,063.30. Following the completion of the sale, the insider now owns 31,187 shares of the company’s stock, valued at $2,459,718.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Cardinal Health Stock Down 0.6 %

Shares of Cardinal Health stock opened at $78.44 on Friday. The firm has a market cap of $20.56 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.80. Cardinal Health, Inc. has a 52-week low of $45.85 and a 52-week high of $81.57. The company’s 50-day simple moving average is $72.50 and its 200-day simple moving average is $63.82.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Tuesday, January 3rd will be issued a $0.4957 dividend. The ex-dividend date of this dividend is Friday, December 30th. This represents a $1.98 annualized dividend and a dividend yield of 2.53%. Cardinal Health’s dividend payout ratio is currently 32.35%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CAH. UBS Group boosted their price objective on shares of Cardinal Health from $61.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 29th. Cowen upped their price objective on shares of Cardinal Health from $59.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday, August 16th. Evercore ISI lifted their target price on Cardinal Health to $75.00 in a research report on Monday, August 15th. Cowen upped their target price on Cardinal Health from $59.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, August 16th. Finally, Robert W. Baird increased their price objective on Cardinal Health from $74.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 7th. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Hold” and an average target price of $76.45.

Cardinal Health Profile

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Cardinal Health, Inc operates as an integrated 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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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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