Cambridge Investment Research Advisors Inc. trimmed its holdings in Cardinal Health Inc (NYSE:CAH) by 40.5% in the 4th quarter, HoldingsChannel reports. The fund owned 10,536 shares of the company’s stock after selling 7,172 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Cardinal Health were worth $646,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new stake in Cardinal Health in the third quarter worth approximately $102,000. Ffcm LLC bought a new stake in shares of Cardinal Health during the 4th quarter worth $105,000. JNBA Financial Advisors boosted its holdings in shares of Cardinal Health by 615.4% during the 4th 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 period. Cerebellum GP LLC bought a new stake in shares of Cardinal Health during the 4th quarter worth $129,000. Finally, James Hambro & Partners bought a new stake in shares of Cardinal Health during the 4th quarter worth $138,000. 89.99% of the stock is owned by institutional investors.
In other news, CEO Michael C. Kaufmann sold 18,586 shares of the stock in a transaction on 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 owns 211,849 shares in the company, valued at approximately $15,655,641.10. The sale was disclosed in a filing with the SEC, which is available at this link. 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 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 disclosure for this sale can be found here. In the last 90 days, 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 subject of several recent analyst reports. ValuEngine downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Evercore ISI initiated coverage on shares of Cardinal Health in a report on Thursday, January 4th. They set an “in-line” rating and a $67.00 price objective for the company. Robert W. Baird reaffirmed a “hold” rating and set a $80.00 price objective on shares of Cardinal Health in a report on Wednesday, January 17th. Mizuho set a $73.00 price objective on shares of Cardinal Health and gave the stock a “hold” rating in a report on Wednesday, January 24th. Finally, Zacks Investment Research raised shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Monday, January 29th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $75.46.
NYSE:CAH opened at $64.34 on Wednesday. The firm has a market cap of $19,634.56, a P/E ratio of 11.91, a P/E/G ratio of 1.40 and a beta of 1.07. Cardinal Health Inc has a one year low of $54.66 and a one year high of $82.60. 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 (NYSE:CAH) last released its earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.17. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The firm had revenue of $35.19 billion during the quarter, compared to analysts’ expectations of $34.63 billion. During the same period in the prior year, the company earned $1.34 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. analysts forecast that Cardinal Health Inc will post 5.42 earnings per share for the current fiscal year.
Cardinal Health declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be paid a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio 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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