Blair William & Co. IL decreased its stake in shares of Cardinal Health Inc (NYSE:CAH) by 10.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,264 shares of the company’s stock after selling 2,702 shares during the period. Blair William & Co. IL’s holdings in Cardinal Health were worth $1,256,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA purchased a new position in Cardinal Health during the third quarter worth $108,000. NEXT Financial Group Inc purchased a new position in Cardinal Health during the third quarter worth $111,000. First Hawaiian Bank purchased a new position in Cardinal Health during the third quarter worth $125,000. Sentry Investment Management LLC purchased a new position in Cardinal Health during the second quarter worth $132,000. Finally, Exane Asset Management purchased a new position in Cardinal Health during the second quarter worth $153,000. 89.10% of the stock is owned by institutional investors.
In other news, SVP Stuart G. Laws sold 804 shares of Cardinal Health stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $55.55, for a total value of $44,662.20. Following the completion of the sale, the senior vice president now owns 6,342 shares of the company’s stock, valued at $352,298.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.
Several research firms have weighed in on CAH. Leerink Swann downgraded Cardinal Health from an “outperform” rating to a “market perform” rating and set a $55.00 price target for the company. in a research report on Friday, November 16th. Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Royal Bank of Canada set a $60.00 price target on Cardinal Health and gave the stock a “hold” rating in a research report on Friday, September 21st. Morgan Stanley raised their price target on Cardinal Health from $40.00 to $50.00 and gave the stock an “underweight” rating in a research report on Monday, December 3rd. Finally, Mizuho reissued a “hold” rating and set a $53.00 price target on shares of Cardinal Health in a research report on Sunday, August 12th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.36.
Shares of NYSE:CAH opened at $53.91 on Friday. The firm has a market capitalization of $16.41 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92. The company has a quick ratio of 0.52, a current ratio of 1.06 and a debt-to-equity ratio of 1.35. Cardinal Health Inc has a 52 week low of $48.14 and a 52 week high of $75.75.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, November 8th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.21. The business had revenue of $35.21 billion during the quarter, compared to the consensus estimate of $33.66 billion. Cardinal Health had a return on equity of 23.97% and a net margin of 0.53%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. On average, research analysts anticipate that Cardinal Health Inc will post 5 earnings per share for the current fiscal year.
Cardinal Health declared that its Board of Directors has authorized a share buyback plan on Thursday, November 8th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be given a $0.4763 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Monday, December 31st. Cardinal Health’s dividend payout ratio is currently 38.20%.
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Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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