Renaissance Technologies LLC bought a new position in Cardinal Health (NYSE:CAH) in the 4th quarter, HoldingsChannel reports. The firm bought 77,900 shares of the company’s stock, valued at approximately $4,773,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Steward Partners Investment Advisory LLC bought a new position in Cardinal Health during the third quarter valued at about $102,000. Ffcm LLC bought a new position in Cardinal Health during the fourth quarter valued at about $105,000. JNBA Financial Advisors grew its position in Cardinal Health by 615.4% during the fourth quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock valued at $114,000 after buying an additional 1,600 shares during the period. Cerebellum GP LLC bought a new position in Cardinal Health during the fourth quarter valued at about $129,000. Finally, James Hambro & Partners bought a new position in Cardinal Health during the fourth quarter valued at about $138,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.
In other Cardinal Health news, CEO Jon L. Giacomin sold 7,995 shares of the company’s 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 sale, the chief executive officer now directly owns 63,043 shares of the company’s stock, valued at $4,336,097.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Patricia Morrison sold 28,532 shares of the 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 sale, the insider now directly owns 36,157 shares in the company, valued at $2,397,209.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,113 shares of company stock worth $3,815,073. Insiders own 0.97% 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 shares of Cardinal Health and gave the company a “hold” rating in a research report on Thursday, February 8th. Bank of America initiated coverage on shares of Cardinal Health in a research report on Tuesday, February 27th. They set an “underperform” rating and a $69.00 price target for the company. Zacks Investment Research upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Monday. Barclays initiated coverage on shares of Cardinal Health in a research report on Thursday, March 8th. They set an “equal weight” rating and a $74.00 price target for the company. Finally, Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Monday, April 2nd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $74.13.
NYSE CAH opened at $63.19 on Wednesday. The stock has a market cap of $19,603.09, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07. Cardinal Health has a 52 week low of $54.66 and a 52 week high of $80.37. 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 released its quarterly earnings data 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. The business had revenue of $35.19 billion for the quarter, compared to the consensus estimate of $34.63 billion. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 earnings per share. analysts anticipate that Cardinal Health will post 5.41 earnings per share for the current fiscal year.
Cardinal Health announced that its Board of Directors has initiated a share repurchase program on Thursday, February 8th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 15th. Shareholders of record on Monday, April 2nd were issued a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, March 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 34.26%.
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Cardinal Health Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company worldwide. The company's Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare, and consumer products to retailers, hospitals, and other healthcare providers.
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