Cardinal Health Inc (CAH) Holdings Raised by Rhumbline Advisers
Rhumbline Advisers boosted its stake in shares of Cardinal Health Inc (NYSE:CAH) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 575,077 shares of the company’s stock after buying an additional 15,549 shares during the period. Rhumbline Advisers owned about 0.18% of Cardinal Health worth $35,235,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CAH. Steward Partners Investment Advisory LLC acquired a new stake in Cardinal Health during the 3rd quarter worth about $102,000. Ffcm LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $105,000. JNBA Financial Advisors raised its holdings in Cardinal Health by 615.4% during the 4th quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock worth $114,000 after buying an additional 1,600 shares during the period. Cerebellum GP LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $129,000. Finally, Advisory Services Network LLC raised its holdings in Cardinal Health by 18.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock worth $136,000 after buying an additional 270 shares during the period. Hedge funds and other institutional investors own 90.04% of the company’s stock.
Several research firms have issued reports on CAH. ValuEngine downgraded Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Jefferies Group set a $72.00 target price on Cardinal Health and gave the company a “hold” rating in a report on Friday, February 9th. Zacks Investment Research upgraded Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Monday, January 29th. Robert W. Baird reiterated a “hold” rating and issued a $80.00 target price on shares of Cardinal Health in a report on Wednesday, January 17th. Finally, TheStreet upgraded Cardinal Health from a “c+” rating to a “b-” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Cardinal Health has a consensus rating of “Hold” and a consensus price target of $74.78.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.17. The business 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%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 EPS. research analysts expect that Cardinal Health Inc will post 5.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, April 2nd will be paid a $0.4624 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.62%. Cardinal Health’s payout ratio is 63.36%.
Cardinal Health announced that its Board of Directors has initiated a share repurchase program on Thursday, February 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other Cardinal Health news, CEO Jon L. Giacomin sold 7,995 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.78, for a total transaction of $549,896.10. Following the completion of the sale, the chief executive officer now owns 63,043 shares of the company’s stock, valued at $4,336,097.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael C. Kaufmann sold 18,586 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $73.90, for a total value of $1,373,505.40. Following the sale, the chief executive officer now directly owns 211,849 shares of the company’s stock, valued at approximately $15,655,641.10. The disclosure for this sale can be found here. Insiders have sold 55,113 shares of company stock valued at $3,815,073 in the last ninety days. Company insiders own 0.97% of the company’s stock.
Cardinal Health Company 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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