MML Investors Services LLC grew its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 36.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,028 shares of the company’s stock after purchasing an additional 2,653 shares during the period. MML Investors Services LLC’s holdings in Cardinal Health were worth $614,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cardinal Health by 14.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,515 shares of the company’s stock valued at $399,000 after purchasing an additional 798 shares during the period. Capital Investment Advisors LLC increased its holdings in shares of Cardinal Health by 9.8% during the fourth quarter. Capital Investment Advisors LLC now owns 9,781 shares of the company’s stock valued at $599,000 after purchasing an additional 872 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Cardinal Health by 19.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 5,941 shares of the company’s stock valued at $364,000 after purchasing an additional 969 shares during the period. Afam Capital Inc. increased its holdings in shares of Cardinal Health by 4.6% during the fourth quarter. Afam Capital Inc. now owns 22,478 shares of the company’s stock valued at $1,377,000 after purchasing an additional 991 shares during the period. Finally, New Mexico Educational Retirement Board increased its holdings in shares of Cardinal Health by 3.7% during the fourth quarter. New Mexico Educational Retirement Board now owns 30,454 shares of the company’s stock valued at $1,866,000 after purchasing an additional 1,100 shares during the period. 89.98% of the stock is currently owned by institutional investors.
In related news, CEO Jon L. Giacomin sold 7,995 shares of the 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 completion of the transaction, the chief executive officer now owns 63,043 shares in the company, valued at approximately $4,336,097.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patricia Morrison sold 28,532 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 55,113 shares of company stock valued at $3,815,073 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.
CAH has been the topic of a number of research analyst reports. Royal Bank of Canada set a $83.00 price target on Cardinal Health and gave the company 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 on the stock. Barclays began coverage on Cardinal Health in a report on Thursday, March 8th. They set an “equal weight” rating and a $74.00 price target on the stock. Zacks Investment Research cut Cardinal Health from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, TheStreet raised Cardinal Health from a “c+” rating to a “b-” rating in a research note on Tuesday, March 13th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $75.46.
Shares of NYSE:CAH traded down $1.45 during midday trading on Friday, reaching $62.39. The company had a trading volume of 1,779,065 shares, compared to its average volume of 2,886,502. 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 1-year low of $54.66 and a 1-year high of $82.80. The firm has a market capitalization of $19,634.57, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.40 and a beta of 1.07.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.17. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. The business had revenue of $35.19 billion during the quarter, compared to analyst estimates of $34.63 billion. During the same quarter last year, the company posted $1.34 EPS. Cardinal Health’s revenue for the quarter was up 6.1% on a year-over-year basis. equities analysts predict that Cardinal Health Inc will post 5.42 earnings per share for the current year.
Cardinal Health announced that its Board of Directors has approved a share buyback program on Thursday, February 8th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
The business 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 $0.4624 dividend. The ex-dividend date 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 34.26%.
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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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