US Bancorp DE lowered its position in shares of Cardinal Health Inc (NYSE:CAH) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,738 shares of the company’s stock after selling 70,989 shares during the period. US Bancorp DE owned approximately 0.07% of Cardinal Health worth $14,198,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of CAH. Dimensional Fund Advisors LP raised its stake in shares of Cardinal Health by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 906,128 shares of the company’s stock valued at $70,608,000 after purchasing an additional 54,752 shares during the period. Shelton Capital Management purchased a new stake in shares of Cardinal Health during the second quarter valued at approximately $238,000. BlueCrest Capital Management Ltd bought a new stake in shares of Cardinal Health in the second quarter worth $517,000. Cubist Systematic Strategies LLC bought a new stake in shares of Cardinal Health in the second quarter worth $1,216,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Cardinal Health by 8.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 72,993 shares of the company’s stock worth $5,688,000 after buying an additional 5,500 shares during the last quarter. Institutional investors own 87.55% of the company’s stock.
In other Cardinal Health news, CEO Michael C. Kaufmann sold 18,586 shares of Cardinal Health stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $73.90, for a total value of $1,373,505.40. Following the completion of the transaction, the chief executive officer now owns 211,849 shares of the company’s stock, valued at $15,655,641.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.
A number of brokerages recently issued reports on CAH. Evercore ISI began coverage on shares of Cardinal Health in a research note on Thursday, January 4th. They issued an “in-line” rating and a $67.00 price target for the company. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Mizuho set a $70.00 price target on shares of Cardinal Health and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Jefferies Group set a $72.00 price target on shares of Cardinal Health and gave the stock a “hold” rating in a research note on Friday, February 9th. Finally, Morgan Stanley lowered shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 20th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $75.84.
Cardinal Health Inc (CAH) traded up $0.63 during trading on Wednesday, reaching $66.32. 987,280 shares of the company’s stock were exchanged, compared to its average volume of 3,336,851. The firm has a market capitalization of $21,409.51, a P/E ratio of 11.57, a PEG ratio of 1.48 and a beta of 0.96. The company has a current ratio of 1.09, a quick ratio of 0.57 and a debt-to-equity ratio of 1.19. Cardinal Health Inc has a 1 year low of $54.66 and a 1 year high of $84.88.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. The firm had revenue of $35.19 billion during the quarter, compared to the consensus estimate of $34.63 billion. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 earnings per share. research analysts predict that Cardinal Health Inc will post 5.42 EPS for the current year.
Cardinal Health declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, April 2nd will be issued a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio is presently 32.17%.
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About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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