Guggenheim Capital LLC lifted its position in shares of Cardinal Health Inc (NYSE:CAH) by 36.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,195,410 shares of the company’s stock after buying an additional 316,772 shares during the period. Guggenheim Capital LLC’s holdings in Cardinal Health were worth $73,242,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new position in Cardinal Health during the third quarter valued at approximately $102,000. Ffcm LLC acquired a new position in Cardinal Health during the fourth quarter valued at approximately $105,000. JNBA Financial Advisors boosted its position in 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 purchasing an additional 1,600 shares during the last quarter. Cerebellum GP LLC acquired a new position in Cardinal Health during the fourth quarter valued at approximately $129,000. Finally, James Hambro & Partners acquired a new position in Cardinal Health during the fourth quarter valued at approximately $138,000. 90.04% of the stock is owned by institutional investors.
Several research analysts recently commented on the company. Barclays began coverage on Cardinal Health in a research report on Thursday. They set an “equal weight” rating and a $74.00 price target for the company. Zacks Investment Research cut Cardinal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Bank of America began coverage on Cardinal Health in a research report on Tuesday, February 27th. They issued an “underperform” rating and a $69.00 price objective for the company. Evercore ISI began coverage on Cardinal Health in a research report on Thursday, January 4th. They issued an “in-line” rating and a $67.00 price objective for the company. Finally, ValuEngine cut Cardinal Health from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $74.78.
Cardinal Health Inc (CAH) opened at $71.16 on Monday. Cardinal Health Inc has a 52 week low of $54.66 and a 52 week high of $84.88. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.57 and a current ratio of 1.09. The company has a market capitalization of $22,394.54, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.60 and a beta of 0.95.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.17. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. The company had revenue of $35.19 billion for the quarter, compared to analyst estimates of $34.63 billion. During the same quarter last year, the company posted $1.34 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. equities analysts forecast that Cardinal Health Inc will post 5.42 earnings per share for the current year.
The company also recently disclosed 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 dividend yield of 2.60%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio (DPR) is 32.17%.
Cardinal Health declared that its Board of Directors has approved a stock buyback program on Thursday, February 8th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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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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