MML Investors Services LLC boosted its position in Cardinal Health Inc (NYSE:CAH) by 36.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,028 shares of the company’s stock after purchasing an additional 2,653 shares during the quarter. MML Investors Services LLC’s holdings in Cardinal Health were worth $614,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CAH. American International Group Inc. lifted its position in Cardinal Health by 5,859.3% in the 4th quarter. American International Group Inc. now owns 7,969,384 shares of the company’s stock valued at $488,284,000 after purchasing an additional 7,835,654 shares during the last quarter. BlackRock Inc. increased its stake in Cardinal Health by 15.0% during the 4th quarter. BlackRock Inc. now owns 24,845,043 shares of the company’s stock valued at $1,522,257,000 after buying an additional 3,235,076 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Cardinal Health during the 4th quarter valued at about $111,944,000. Ameriprise Financial Inc. increased its stake in Cardinal Health by 38.6% during 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. Finally, Bank of New York Mellon Corp increased its stake in Cardinal Health by 31.3% during the 4th quarter. Bank of New York Mellon Corp now owns 5,049,224 shares of the company’s stock valued at $309,366,000 after buying an additional 1,203,015 shares during the period. Hedge funds and other institutional investors own 90.04% of the company’s stock.
In other Cardinal Health news, CEO Michael C. Kaufmann sold 18,586 shares of the firm’s stock in a transaction dated 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 directly owns 211,849 shares in the company, valued at $15,655,641.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Patricia Morrison sold 28,532 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $66.30, for a total transaction of $1,891,671.60. Following the completion of the transaction, the insider now owns 36,157 shares of the company’s stock, valued at $2,397,209.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,113 shares of company stock valued at $3,815,073. Corporate insiders own 0.97% of the company’s stock.
CAH has been the topic of several research analyst reports. Morgan Stanley cut shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 20th. Deutsche Bank initiated coverage on shares of Cardinal Health in a research note on Monday, December 4th. They set a “hold” rating and a $64.00 target price on the stock. Zacks Investment Research raised shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Monday, January 29th. Jefferies Group set a $72.00 target price on shares of Cardinal Health and gave the company a “hold” rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada set a $83.00 target price on shares of Cardinal Health and gave the company a “hold” rating in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company’s stock. Cardinal Health currently has a consensus rating of “Hold” and an average target price of $74.78.
Cardinal Health Inc (NYSE CAH) opened at $70.95 on Friday. The stock has a market cap of $22,249.78, a P/E ratio of 13.49, a PEG ratio of 1.59 and a beta of 0.95. The company has a quick ratio of 0.57, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. Cardinal Health Inc has a 52 week low of $54.66 and a 52 week high of $83.22.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.17. The company had revenue of $35.19 billion for the quarter, compared to analysts’ expectations of $34.63 billion. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. research analysts expect that Cardinal Health Inc will post 5.43 earnings per share for the current fiscal year.
Cardinal Health declared that its Board of Directors has approved a stock repurchase program on Thursday, February 8th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced 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 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, March 29th. Cardinal Health’s payout ratio is 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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