AMP Capital Investors Ltd decreased its position in shares of Cardinal Health Inc (NYSE:CAH) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,071 shares of the company’s stock after selling 4,497 shares during the period. AMP Capital Investors Ltd’s holdings in Cardinal Health were worth $7,303,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Arbor Wealth Management LLC acquired a new position in Cardinal Health during the 2nd quarter worth $1,582,000. Livingston Group Asset Management CO operating as Southport Capital Management lifted its position in Cardinal Health by 32.5% during 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 during the last quarter. Kempner Capital Management Inc. lifted its position in Cardinal Health by 28.8% during 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 during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Cardinal Health by 41.7% during 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 during the last quarter. Finally, Andra AP fonden lifted its position in Cardinal Health by 21.7% during 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 during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Stuart G. Laws sold 804 shares of the stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $55.55, for a total value 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 $352,298.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Shares of CAH opened at $53.91 on Friday. The stock has a market cap of $16.41 billion, a PE ratio of 10.78, a P/E/G ratio of 1.75 and a beta of 0.92. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.52. 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 analyst estimates of $33.66 billion. Cardinal Health had a net margin of 0.53% and a return on equity of 23.97%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. Equities analysts predict that Cardinal Health Inc will post 5 EPS for the current year.
Cardinal Health declared that its board has initiated a stock 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 typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be given a $0.4763 dividend. This represents a $1.91 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Monday, December 31st. Cardinal Health’s dividend payout ratio (DPR) is presently 38.20%.
A number of research analysts have recently commented on CAH shares. Morgan Stanley upped their price objective on shares of Cardinal Health from $40.00 to $50.00 and gave the company an “underweight” rating in a research report on Monday, December 3rd. Leerink Swann lowered shares of Cardinal Health from an “outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a research report on Friday, November 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a $61.00 price objective on shares of Cardinal Health in a research report on Wednesday, November 14th. Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Finally, ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Monday, November 12th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $61.36.
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.
Read More: Google Finance Portfolio
Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health Inc (NYSE:CAH).
Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.