Keybank National Association OH lessened its stake in Cardinal Health Inc (NYSE:CAH) by 43.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,318 shares of the company’s stock after selling 4,928 shares during the quarter. Keybank National Association OH’s holdings in Cardinal Health were worth $387,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new position in Cardinal Health in the 3rd quarter worth about $102,000. Ffcm LLC purchased a new position in Cardinal Health in the 4th quarter worth about $105,000. JNBA Financial Advisors increased its stake in Cardinal Health by 615.4% in 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 purchased a new position in Cardinal Health in the 4th quarter worth about $129,000. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Cardinal Health by 96.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,507 shares of the company’s stock worth $154,000 after buying an additional 1,231 shares during the period. 89.77% of the stock is currently owned by institutional investors.
CAH has been the topic of several recent research reports. ValuEngine cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Robert W. Baird reiterated a “hold” rating and set a $80.00 target price on shares of Cardinal Health in a report on Wednesday, January 17th. Zacks Investment Research upgraded shares of 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. Jefferies Group set a $72.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a report on Friday, February 9th. Finally, Royal Bank of Canada set a $83.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. Cardinal Health has an average rating of “Hold” and a consensus target price of $75.84.
Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. The company had revenue of $35.19 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. analysts anticipate that Cardinal Health Inc will post 5.43 earnings per share for the current fiscal year.
The business also recently announced 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. This represents a $1.85 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, March 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 32.17%.
Cardinal Health announced that its board has approved a share repurchase program on Thursday, February 8th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, CEO Michael C. Kaufmann sold 18,586 shares of Cardinal Health stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $73.90, for a total value of $1,373,505.40. Following the completion of the sale, the chief executive officer now directly owns 211,849 shares in the company, valued at approximately $15,655,641.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon L. Giacomin sold 7,995 shares of Cardinal Health 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 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 quarter. 0.97% of the stock is owned by company insiders.
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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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