Toronto Dominion Bank Sells 18,854 Shares of Cardinal Health, Inc. (NYSE:CAH)

Toronto Dominion Bank trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,734 shares of the company’s stock after selling 18,854 shares during the quarter. Toronto Dominion Bank’s holdings in Cardinal Health were worth $11,674,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of Cardinal Health in the 2nd quarter valued at approximately $90,440,000. Acadian Asset Management LLC lifted its position in Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after buying an additional 598,002 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of Cardinal Health during the 1st quarter valued at $56,454,000. Jacobs Levy Equity Management Inc. grew its position in shares of Cardinal Health by 265.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after buying an additional 477,682 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of Cardinal Health by 1,941.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock worth $46,183,000 after buying an additional 435,722 shares during the period. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Performance

CAH opened at $109.79 on Friday. The company’s 50-day simple moving average is $107.10 and its two-hundred day simple moving average is $103.99. The stock has a market capitalization of $26.74 billion, a P/E ratio of 48.80, a P/E/G ratio of 1.33 and a beta of 0.60. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Research analysts forecast that Cardinal Health, Inc. will post 7.62 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.506 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.84%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is presently 89.78%.

Analyst Ratings Changes

Several research firms recently commented on CAH. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Argus upped their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Robert W. Baird raised their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Morgan Stanley boosted their target price on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, UBS Group raised their price target on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.36.

Insider Activity at Cardinal Health

In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the sale, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is 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.