AMP Capital Investors Ltd cut its holdings in Cardinal Health Inc (NYSE:CAH) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,481 shares of the company’s stock after selling 1,603 shares during the quarter. AMP Capital Investors Ltd’s holdings in Cardinal Health were worth $7,013,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Cardinal Health during the third quarter valued at about $102,000. Ffcm LLC purchased a new stake in shares of Cardinal Health during the fourth quarter valued at about $105,000. JNBA Financial Advisors lifted its position in shares of Cardinal Health by 615.4% during the fourth quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock valued at $114,000 after buying an additional 1,600 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of Cardinal Health during the fourth quarter valued at about $129,000. Finally, James Hambro & Partners purchased a new stake in shares of Cardinal Health during the fourth quarter valued at about $138,000. 90.04% of the stock is owned by institutional investors.
In related news, insider Patricia Morrison sold 28,532 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total value of $1,891,671.60. Following the transaction, the insider now owns 36,157 shares in the company, valued at approximately $2,397,209.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael C. Kaufmann sold 18,586 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was 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 owns 211,849 shares in the company, valued at approximately $15,655,641.10. The disclosure for this sale can be found here. Insiders sold a total of 55,113 shares of company stock valued at $3,815,073 over the last ninety days. 0.97% of the stock is currently owned by insiders.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data 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 firm had revenue of $35.19 billion during the quarter, compared to analyst estimates of $34.63 billion. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. Cardinal Health’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.34 EPS. 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 authorized a stock buyback program on Thursday, February 8th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, April 2nd will be given a $0.4624 dividend. This represents a $1.85 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, March 29th. Cardinal Health’s payout ratio is currently 63.36%.
Several research firms have commented on CAH. TheStreet raised shares of Cardinal Health from a “c+” rating to a “b-” rating in a research report on Tuesday. Barclays began coverage on shares of Cardinal Health in a research report on Thursday, March 8th. They set an “equal weight” rating and a $74.00 price target for the company. Zacks Investment Research lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Evercore ISI began coverage on shares of Cardinal Health in a research report on Thursday, January 4th. They set an “in-line” rating and a $67.00 price target for the company. Finally, ValuEngine lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. Cardinal Health has a consensus rating of “Hold” and an average target price of $74.78.
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About Cardinal Health
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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