Grimes & Company Inc. lowered its holdings in Cardinal Health Inc (NYSE:CAH) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,848 shares of the company’s stock after selling 3,017 shares during the quarter. Grimes & Company Inc.’s holdings in Cardinal Health were worth $1,277,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in CAH. Ameriprise Financial Inc. grew its holdings in Cardinal Health by 38.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,930,457 shares of the company’s stock valued at $329,964,000 after buying an additional 1,373,334 shares during the period. American Century Companies Inc. lifted its position in Cardinal Health by 58.7% during the 3rd quarter. American Century Companies Inc. now owns 2,976,776 shares of the company’s stock worth $199,206,000 after acquiring an additional 1,100,507 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Cardinal Health in the 4th quarter valued at approximately $50,255,000. Pzena Investment Management LLC raised its position in shares of Cardinal Health by 70.6% in the 3rd quarter. Pzena Investment Management LLC now owns 1,806,522 shares of the company’s stock valued at $120,892,000 after purchasing an additional 747,718 shares in the last quarter. Finally, Boston Partners raised its position in shares of Cardinal Health by 31.0% in the 3rd quarter. Boston Partners now owns 2,918,367 shares of the company’s stock valued at $195,297,000 after purchasing an additional 690,827 shares in the last quarter. 87.55% of the stock is owned by institutional investors.
In related news, CEO Michael C. Kaufmann sold 18,586 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the completion of the sale, the chief executive officer now directly owns 211,849 shares of the company’s stock, valued at approximately $15,655,641.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.
A number of research analysts recently commented on the company. Mizuho set a $70.00 price objective on Cardinal Health and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Jefferies Group cut their price objective on Cardinal Health from $77.00 to $67.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Argus downgraded Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Morgan Stanley downgraded Cardinal Health from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $75.84.
Shares of Cardinal Health Inc (NYSE CAH) traded up $1.20 during trading hours on Wednesday, reaching $66.89. The company had a trading volume of 1,071,558 shares, compared to its average volume of 3,363,832. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.57 and a current ratio of 1.09. Cardinal Health Inc has a 1 year low of $54.66 and a 1 year high of $84.88. The company has a market cap of $21,409.51, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 1.48 and a beta of 0.96.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 8th. The company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.17. The company had revenue of $35.19 billion during the quarter, compared to the consensus estimate of $34.63 billion. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $1.34 EPS. research analysts predict that Cardinal Health Inc will post 5.42 EPS for the current fiscal year.
Cardinal Health announced that its board has authorized a share buyback plan on Thursday, February 8th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, April 2nd will be given a dividend of $0.4624 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.77%. Cardinal Health’s dividend payout ratio (DPR) is presently 32.17%.
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Cardinal Health Profile
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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