Investors bought shares of Cardinal Health Inc (NYSE:CAH) on weakness during trading on Tuesday. $107.30 million flowed into the stock on the tick-up and $83.02 million flowed out of the stock on the tick-down, for a money net flow of $24.28 million into the stock. Of all companies tracked, Cardinal Health had the 19th highest net in-flow for the day. Cardinal Health traded down ($4.58) for the day and closed at $65.41
CAH has been the subject of several research analyst reports. Morgan Stanley cut shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 20th. Deutsche Bank initiated coverage on shares of Cardinal Health in a research report on Monday, December 4th. They issued a “hold” rating and a $64.00 target price for the company. Zacks Investment Research raised shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Monday, January 29th. Jefferies Group set a $72.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada set a $83.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a research report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $74.78.
The stock has a market capitalization of $22,328.46, a PE ratio of 11.38, a PEG ratio of 1.60 and a beta of 0.95. 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 (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.17. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The company had revenue of $35.19 billion during the quarter, compared to analysts’ expectations of $34.63 billion. During the same period last year, the company posted $1.34 EPS. Cardinal Health’s revenue was up 6.1% on a year-over-year basis. equities analysts anticipate that Cardinal Health Inc will post 5.42 EPS for the current fiscal year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 2.83%. Cardinal Health’s dividend payout ratio (DPR) is currently 32.17%.
Cardinal Health declared that its Board of Directors has initiated a share repurchase 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 generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, CEO Jon L. Giacomin sold 7,995 shares of Cardinal Health stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.78, for a total transaction of $549,896.10. Following the completion of the transaction, the chief executive officer now directly owns 63,043 shares of the company’s stock, valued at approximately $4,336,097.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael C. Kaufmann sold 18,586 shares of Cardinal Health stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the transaction, the chief executive officer now directly owns 211,849 shares of the company’s stock, valued at $15,655,641.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,113 shares of company stock valued at $3,815,073. 0.97% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC purchased a new position in Cardinal Health in the third quarter worth about $102,000. Ffcm LLC purchased a new position in Cardinal Health in the fourth quarter worth about $105,000. JNBA Financial Advisors raised its holdings in Cardinal Health by 615.4% in the fourth quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock worth $114,000 after buying an additional 1,600 shares during the last quarter. Cerebellum GP LLC purchased a new position in Cardinal Health in the fourth quarter worth about $129,000. Finally, James Hambro & Partners purchased a new position in Cardinal Health in the fourth quarter worth about $138,000. 89.98% of the stock is owned by institutional investors and hedge funds.
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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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