Cardinal Health, Inc. (NYSE:CAH) Declares Quarterly Dividend of $0.52

Cardinal Health, Inc. (NYSE:CAH) announced a quarterly dividend on Wednesday, November 11th. Stockholders of record on Monday, January 4th will be given a dividend of $0.5158 per share on Friday, January 15th. This represents a $2.06 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, January 4th.

Cardinal Health has a dividend payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cardinal Health to earn $14.16 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 14.5%.

Cardinal Health Price Performance

Cardinal Health stock opened at $277.63 on Thursday. Cardinal Health has a 1-year low of $180.45 and a 1-year high of $286.29. The company has a market cap of $64.17 billion, a PE ratio of 35.92, a price-to-earnings-growth ratio of 2.12 and a beta of 0.53. The stock’s 50 day moving average price is $242.85 and its 200 day moving average price is $224.57.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, November 5th. The company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.32. The firm had revenue of $67.51 billion during the quarter, compared to analysts’ expectations of $66.67 billion. Cardinal Health had a negative return on equity of 102.72% and a net margin of 0.71%. Cardinal Health’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.55 earnings per share. On average, equities research analysts anticipate that Cardinal Health will post 12.96 EPS for the current fiscal year.

Insider Activity at Cardinal Health

In other news, CEO Jason M. Hollar sold 80,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the completion of the sale, the chief executive officer directly owned 235,132 shares of the company’s stock, valued at $55,430,017.68. This represents a 25.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michelle D. Greene sold 11,650 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the transaction, the insider directly owned 10,330 shares of the company’s stock, valued at $2,434,987.60. This represents a 53.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 210,271 shares of company stock worth $49,626,657 in the last quarter. Company insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Cardinal Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cornerstone Select Advisors LLC boosted its holdings in Cardinal Health by 2.4% in the third quarter. Cornerstone Select Advisors LLC now owns 18,890 shares of the company’s stock worth $4,203,000 after purchasing an additional 434 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its position in Cardinal Health by 202.2% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 136 shares of the company’s stock worth $30,000 after buying an additional 91 shares during the period. TIAA CREF Individual & Institutional Services LLC raised its stake in Cardinal Health by 13.9% during the 3rd quarter. TIAA CREF Individual & Institutional Services LLC now owns 1,463 shares of the company’s stock valued at $326,000 after purchasing an additional 179 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Cardinal Health during the third quarter valued at about $1,841,000. Finally, Edmond DE Rothschild Holding S.A. raised its holdings in Cardinal Health by 51.3% in the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 5,682 shares of the company’s stock valued at $1,264,000 after acquiring an additional 1,927 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Company Profile

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers. The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations. Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.