Element Capital Management LLC bought a new stake in Cardinal Health Inc (NYSE:CAH) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 709,860 shares of the company’s stock, valued at approximately $43,493,000. Element Capital Management LLC owned about 0.23% of Cardinal Health at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. Macquarie Group Ltd. grew its stake in Cardinal Health by 5.1% in the 4th quarter. Macquarie Group Ltd. now owns 10,625,511 shares of the company’s stock valued at $651,092,000 after buying an additional 520,137 shares during the last quarter. Vident Investment Advisory LLC acquired a new position in Cardinal Health in the 4th quarter valued at $579,000. Belpointe Asset Management LLC grew its stake in Cardinal Health by 40.9% in the 4th quarter. Belpointe Asset Management LLC now owns 7,802 shares of the company’s stock valued at $478,000 after buying an additional 2,263 shares during the last quarter. Verition Fund Management LLC grew its stake in Cardinal Health by 51.9% in the 4th quarter. Verition Fund Management LLC now owns 101,576 shares of the company’s stock valued at $6,224,000 after buying an additional 34,703 shares during the last quarter. Finally, Flinton Capital Management LLC grew its stake in Cardinal Health by 84.6% in the 4th quarter. Flinton Capital Management LLC now owns 44,624 shares of the company’s stock valued at $2,734,000 after buying an additional 20,448 shares during the last quarter. Institutional investors and hedge funds own 90.04% of the company’s stock.
In related news, CEO Michael C. Kaufmann sold 18,586 shares of Cardinal Health stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the completion of the transaction, the chief executive officer now directly owns 211,849 shares of the company’s stock, valued at approximately $15,655,641.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patricia Morrison sold 28,532 shares of Cardinal Health stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total transaction of $1,891,671.60. Following the transaction, the insider now directly owns 36,157 shares of the company’s stock, valued at $2,397,209.10. The disclosure for this sale can be found here. Insiders have sold a total of 55,113 shares of company stock valued at $3,815,073 over the last three months. 0.97% of the stock is currently owned by insiders.
Cardinal Health Inc (NYSE:CAH) opened at $70.70 on Friday. The company has a market cap of $22,671.49, a PE ratio of 12.30, a PEG ratio of 1.62 and a beta of 0.95. Cardinal Health Inc has a 1-year low of $54.66 and a 1-year high of $83.74. The company has a current ratio of 1.09, a quick ratio of 0.57 and a debt-to-equity ratio of 1.19.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The company had revenue of $35.19 billion during the quarter, compared to the consensus estimate of $34.63 billion. During the same period last year, the firm earned $1.34 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. research analysts anticipate that Cardinal Health Inc will post 5.42 earnings per share for the current fiscal year.
Cardinal Health declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
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 issued a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio is currently 32.17%.
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Cardinal Health 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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