Redpoint Investment Management Pty Ltd grew its position in Cardinal Health Inc (NYSE:CAH) by 100.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,002 shares of the company’s stock after buying an additional 34,638 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Cardinal Health were worth $3,077,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Transamerica Financial Advisors Inc. acquired a new position in Cardinal Health in the 4th quarter worth $32,000. Regal Investment Advisors LLC acquired a new position in Cardinal Health in the 4th quarter worth $1,530,000. Financial Gravity Companies Inc. bought a new stake in Cardinal Health during the 4th quarter worth about $68,000. Malaga Cove Capital LLC bought a new stake in Cardinal Health during the 4th quarter worth about $477,000. Finally, Cambridge Financial Group Inc. lifted its position in Cardinal Health by 3.0% during the 4th quarter. Cambridge Financial Group Inc. now owns 99,302 shares of the company’s stock worth $4,429,000 after buying an additional 2,851 shares in the last quarter. 90.75% of the stock is owned by institutional investors.
Several equities research analysts have commented on CAH shares. Zacks Investment Research cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Wednesday, January 9th. ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Monday, November 12th. Royal Bank of Canada set a $57.00 price target on shares of Cardinal Health and gave the stock a “hold” rating in a research report on Friday, November 9th. Jefferies Financial Group reissued a “hold” rating and set a $61.00 price target on shares of Cardinal Health in a research report on Wednesday, November 14th. Finally, Morgan Stanley boosted their price target on shares of Cardinal Health from $40.00 to $50.00 and gave the stock an “underweight” rating in a research report on Monday, December 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $59.91.
Shares of NYSE:CAH opened at $53.19 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.51 and a debt-to-equity ratio of 1.26. Cardinal Health Inc has a one year low of $42.17 and a one year high of $73.23. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.67 and a beta of 1.16.
Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 7th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.20. The company had revenue of $37.70 billion for the quarter, compared to analysts’ expectations of $36.09 billion. Cardinal Health had a negative net margin of 0.03% and a positive return on equity of 24.01%. Cardinal Health’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. As a group, equities analysts forecast that Cardinal Health Inc will post 5.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a $0.4763 dividend. The ex-dividend date of this dividend is Friday, March 29th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.58%. Cardinal Health’s payout ratio is 38.20%.
Cardinal Health announced that its Board of Directors has initiated 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 purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
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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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