Nomura Asset Management Co. Ltd. lifted its stake in shares of Cardinal Health Inc (NYSE:CAH) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,996 shares of the company’s stock after purchasing an additional 5,756 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Cardinal Health were worth $3,493,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new position in Cardinal Health in the 3rd quarter worth about $102,000. Ffcm LLC bought a new position in Cardinal Health in the 4th quarter worth about $105,000. JNBA Financial Advisors increased its stake in Cardinal Health by 615.4% in the 4th quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock worth $114,000 after acquiring an additional 1,600 shares during the last quarter. Cerebellum GP LLC bought a new position in Cardinal Health in the 4th quarter worth about $129,000. Finally, James Hambro & Partners bought a new position in Cardinal Health in the 4th quarter worth about $138,000. Institutional investors and hedge funds own 90.04% of the company’s stock.
In related news, CEO Michael C. Kaufmann sold 18,586 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the completion of the sale, the chief executive officer now directly owns 211,849 shares in the company, valued at approximately $15,655,641.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jon L. Giacomin sold 7,995 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.78, for a total value of $549,896.10. Following the sale, the chief executive officer now owns 63,043 shares of the company’s stock, valued at $4,336,097.54. The disclosure for this sale can be found here. Insiders have sold a total of 55,113 shares of company stock valued at $3,815,073 over the last 90 days. 0.97% of the stock is currently owned by company insiders.
Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.17. The company had revenue of $35.19 billion during the quarter, compared to analysts’ expectations of $34.63 billion. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. Cardinal Health’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 EPS. equities analysts predict that Cardinal Health Inc will post 5.42 earnings per share for the current fiscal year.
Cardinal Health announced that its board has authorized a stock repurchase program 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 programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, April 2nd will be issued a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a yield of 2.56%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio is presently 32.17%.
CAH has been the topic of a number of research analyst reports. Robert W. Baird restated a “hold” rating and issued a $80.00 target price on shares of Cardinal Health in a research note on Wednesday, January 17th. Mizuho set a $73.00 target price on Cardinal Health and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Royal Bank of Canada set a $83.00 target price on Cardinal Health and gave the stock a “hold” rating in a research note on Thursday, February 8th. ValuEngine lowered Cardinal Health from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Argus lowered Cardinal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.78.
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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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