ING Groep NV Invests $9.26 Million in Cardinal Health, Inc. (NYSE:CAH)

ING Groep NV acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 83,812 shares of the company’s stock, valued at approximately $9,263,000.

Several other institutional investors have also added to or reduced their stakes in CAH. Eastern Bank acquired a new stake in shares of Cardinal Health in the 3rd quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in Cardinal Health in the 2nd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health in the 2nd quarter valued at approximately $29,000. Hara Capital LLC acquired a new position in Cardinal Health during the 3rd quarter worth approximately $31,000. Finally, LRI Investments LLC bought a new position in shares of Cardinal Health during the 1st quarter worth approximately $32,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Trading Down 3.2 %

CAH opened at $121.32 on Friday. The stock’s fifty day simple moving average is $113.00 and its 200 day simple moving average is $105.07. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14. The stock has a market cap of $29.36 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.56 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 earnings per share. Equities analysts forecast that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company 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 presently 39.30%.

Analysts Set New Price Targets

CAH has been the topic of a number of research reports. Argus boosted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Evercore ISI increased their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $123.00.

Insider Activity

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction dated 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 owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The trade was a 5.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred 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 trade was a 17.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,351 shares of company stock valued at $7,565,843. 0.09% of the stock is owned by insiders.

About Cardinal Health

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.