SWS Partners purchased a new position in Cardinal Health Inc (NYSE:CAH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,709 shares of the company’s stock, valued at approximately $656,000.
A number of other institutional investors have also bought and sold shares of CAH. Janus Henderson Group PLC boosted its stake in Cardinal Health by 77.8% in the 3rd quarter. Janus Henderson Group PLC now owns 108,930 shares of the company’s stock worth $7,291,000 after purchasing an additional 47,669 shares during the period. New Mexico Educational Retirement Board boosted its stake in shares of Cardinal Health by 3.7% during the 4th quarter. New Mexico Educational Retirement Board now owns 30,454 shares of the company’s stock valued at $1,866,000 after buying an additional 1,100 shares during the period. Cadence Capital Management LLC boosted its stake in shares of Cardinal Health by 8.4% during the 3rd quarter. Cadence Capital Management LLC now owns 65,205 shares of the company’s stock valued at $4,364,000 after buying an additional 5,078 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Cardinal Health by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 1,318,252 shares of the company’s stock valued at $80,768,000 after buying an additional 293,863 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Cardinal Health by 13.0% during the 4th quarter. Toronto Dominion Bank now owns 135,627 shares of the company’s stock valued at $8,310,000 after buying an additional 15,613 shares during the period. Hedge funds and other institutional investors own 89.98% of the company’s stock.
CAH stock opened at $65.41 on Wednesday. The company has a market cap of $22,026.34, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.58 and a beta of 0.95. Cardinal Health Inc has a twelve month low of $54.66 and a twelve month high of $82.88. 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 announced its earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.14 by $0.17. The firm 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 business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 EPS. analysts expect that Cardinal Health Inc will post 5.42 earnings per share for the current fiscal year.
Cardinal Health announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
The business also recently disclosed 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 is Thursday, March 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.83%. Cardinal Health’s payout ratio is 32.17%.
In other 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 sale, the chief executive officer now directly owns 63,043 shares in the company, valued at approximately $4,336,097.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patricia Morrison sold 28,532 shares of Cardinal Health stock in a transaction dated 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 sale, the insider now owns 36,157 shares in the company, valued at $2,397,209.10. The disclosure for this sale can be found here. In the last 90 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 a number of research reports. Robert W. Baird reissued a “hold” rating and set a $80.00 target price on shares of Cardinal Health in a research note on Wednesday, January 17th. Mizuho set a $73.00 price objective on shares of Cardinal Health and gave the company a “hold” rating in a research note on Wednesday, January 24th. Royal Bank of Canada set a $83.00 price objective on shares of Cardinal Health and gave the company a “hold” rating in a research note on Thursday, February 8th. ValuEngine lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Deutsche Bank started coverage on shares of Cardinal Health in a research note on Monday, December 4th. They issued a “hold” rating and a $64.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $74.78.
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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