California State Teachers Retirement System lifted its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 576,071 shares of the company’s stock after acquiring an additional 5,814 shares during the quarter. California State Teachers Retirement System owned approximately 0.18% of Cardinal Health worth $35,296,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Nationwide Fund Advisors lifted its holdings in Cardinal Health by 12.3% during the 3rd quarter. Nationwide Fund Advisors now owns 286,634 shares of the company’s stock worth $19,182,000 after purchasing an additional 31,402 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Cardinal Health by 19.9% during the 3rd quarter. New York State Common Retirement Fund now owns 1,211,579 shares of the company’s stock worth $81,079,000 after purchasing an additional 200,692 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Cardinal Health by 12.2% during the 3rd quarter. Toronto Dominion Bank now owns 120,014 shares of the company’s stock worth $8,030,000 after purchasing an additional 13,009 shares during the last quarter. Advisor Group Inc. lifted its holdings in Cardinal Health by 52.7% during the 3rd quarter. Advisor Group Inc. now owns 30,194 shares of the company’s stock worth $2,020,000 after purchasing an additional 10,423 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Cardinal Health by 2.4% during the 3rd quarter. Rhumbline Advisers now owns 559,528 shares of the company’s stock worth $37,444,000 after purchasing an additional 13,168 shares during the last quarter. Institutional investors own 89.98% of the company’s stock.
CAH has been the subject of several research reports. Royal Bank of Canada set a $83.00 price target on Cardinal Health and gave the stock a “hold” rating in a report on Thursday, February 8th. Bank of America initiated coverage on Cardinal Health in a report on Tuesday, February 27th. They set an “underperform” rating and a $69.00 price target for the company. Barclays initiated coverage on Cardinal Health in a report on Thursday, March 8th. They set an “equal weight” rating and a $74.00 price target for the company. Zacks Investment Research cut Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, TheStreet raised Cardinal Health from a “c+” rating to a “b-” rating in a report on Tuesday, March 13th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $75.46.
In other news, insider Patricia Morrison sold 28,532 shares of the business’s stock in a transaction on 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 approximately $2,397,209.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jon L. Giacomin sold 7,995 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.78, for a total value of $549,896.10. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 55,113 shares of company stock valued at $3,815,073 in the last three months. 0.97% of the stock is owned by insiders.
NYSE CAH traded down $1.45 during midday trading on Friday, hitting $62.39. The company had a trading volume of 1,779,065 shares, compared to its average volume of 2,886,502. The stock has a market capitalization of $20,090.89, a PE ratio of 11.55, a P/E/G ratio of 1.44 and a beta of 1.07. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.57. Cardinal Health Inc has a twelve month low of $54.66 and a twelve month high of $82.80.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. The company had revenue of $35.19 billion during the quarter, compared to analysts’ expectations of $34.63 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. Cardinal Health’s revenue was up 6.1% on a year-over-year basis. equities analysts expect that Cardinal Health Inc will post 5.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be issued 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 dividend yield of 2.96%. Cardinal Health’s dividend payout ratio (DPR) is currently 34.26%.
Cardinal Health announced that its Board of Directors has authorized a share repurchase program on Thursday, February 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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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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