Canada Pension Plan Investment Board grew its holdings in Cardinal Health Inc (NYSE:CAH) by 26.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 143,847 shares of the company’s stock after buying an additional 30,355 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Cardinal Health were worth $7,768,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAH. Arbor Wealth Management LLC bought a new position in shares of Cardinal Health in the 2nd quarter worth approximately $1,582,000. Livingston Group Asset Management CO operating as Southport Capital Management raised its position in shares of Cardinal Health by 32.5% in the 3rd quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 19,650 shares of the company’s stock worth $1,061,000 after acquiring an additional 4,825 shares in the last quarter. Kempner Capital Management Inc. raised its position in shares of Cardinal Health by 28.8% in the 3rd quarter. Kempner Capital Management Inc. now owns 119,832 shares of the company’s stock worth $6,471,000 after acquiring an additional 26,794 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Cardinal Health by 41.7% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 9,581 shares of the company’s stock worth $517,000 after acquiring an additional 2,820 shares in the last quarter. Finally, Andra AP fonden raised its position in shares of Cardinal Health by 21.7% in the 2nd quarter. Andra AP fonden now owns 163,300 shares of the company’s stock worth $7,974,000 after acquiring an additional 29,100 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.
Several research analysts have recently issued reports on the company. Morgan Stanley increased their target price on Cardinal Health from $40.00 to $50.00 and gave the stock an “underweight” rating in a research report on Monday, December 3rd. Leerink Swann lowered Cardinal Health from an “outperform” rating to a “market perform” rating and set a $55.00 target price for the company. in a research report on Friday, November 16th. Jefferies Financial Group reissued a “hold” rating and issued a $61.00 target price on shares of Cardinal Health in a research report on Wednesday, November 14th. Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Finally, ValuEngine raised Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Monday, November 12th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $61.36.
In related news, SVP Stuart G. Laws sold 804 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $55.55, for a total transaction of $44,662.20. Following the completion of the transaction, the senior vice president now owns 6,342 shares of the company’s stock, valued at approximately $352,298.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.
CAH stock opened at $53.91 on Friday. Cardinal Health Inc has a twelve month low of $48.14 and a twelve month high of $75.75. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.52. The company has a market cap of $16.33 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.75 and a beta of 0.92.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, November 8th. The company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.21. Cardinal Health had a return on equity of 23.97% and a net margin of 0.53%. The company had revenue of $35.21 billion during the quarter, compared to analyst estimates of $33.66 billion. During the same quarter last year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts forecast that Cardinal Health Inc will post 5 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be given a dividend of $0.4763 per share. This represents a $1.91 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, December 31st. Cardinal Health’s dividend payout ratio (DPR) is presently 38.20%.
Cardinal Health announced that its board has approved a share buyback program on Thursday, November 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
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Cardinal Health 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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