Curi RMB Capital LLC Has $3.95 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Curi RMB Capital LLC lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 12.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,709 shares of the company’s stock after selling 4,927 shares during the period. Curi RMB Capital LLC’s holdings in Cardinal Health were worth $3,947,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Huntington National Bank boosted its holdings in Cardinal Health by 0.9% in the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after purchasing an additional 100 shares during the period. Community Bank & Trust Waco Texas raised its position in shares of Cardinal Health by 3.2% during the third quarter. Community Bank & Trust Waco Texas now owns 5,184 shares of the company’s stock valued at $573,000 after buying an additional 160 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Cardinal Health by 11.5% in the third quarter. Victory Capital Management Inc. now owns 969,521 shares of the company’s stock valued at $107,151,000 after buying an additional 99,973 shares during the period. Prime Capital Investment Advisors LLC grew its position in Cardinal Health by 11.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 4,618 shares of the company’s stock worth $510,000 after buying an additional 472 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Cardinal Health by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 621,508 shares of the company’s stock valued at $68,689,000 after acquiring an additional 5,600 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH stock opened at $121.32 on Friday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The stock has a market capitalization of $29.36 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.54 and a beta of 0.60. The company’s 50-day moving average is $113.00 and its 200-day moving average is $105.07.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the firm posted $1.73 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts anticipate that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CAH shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Morgan Stanley boosted their target price on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Robert W. Baird raised their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. UBS Group boosted their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company raised their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $123.00.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 16,573 shares of the company’s 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 completion of the sale, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. This represents a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the sale, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The trade was a 5.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,351 shares of company stock valued at $7,565,843 over the last three months. Corporate insiders own 0.09% of the company’s stock.

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.