Advisor Group Inc. raised its stake in Cardinal Health Inc (NYSE:CAH) by 141.3% in the fourth quarter, Holdings Channel reports. The fund owned 72,866 shares of the company’s stock after purchasing an additional 42,672 shares during the quarter. Advisor Group Inc.’s holdings in Cardinal Health were worth $4,464,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of Cardinal Health by 77.8% in the third quarter. Janus Henderson Group PLC now owns 108,930 shares of the company’s stock worth $7,291,000 after acquiring an additional 47,669 shares during the last quarter. Cadence Capital Management LLC raised its holdings in shares of Cardinal Health by 8.4% in the third quarter. Cadence Capital Management LLC now owns 65,205 shares of the company’s stock worth $4,364,000 after acquiring an additional 5,078 shares during the last quarter. Commonwealth Equity Services Inc raised its holdings in shares of Cardinal Health by 7.4% in the third quarter. Commonwealth Equity Services Inc now owns 72,959 shares of the company’s stock worth $4,882,000 after acquiring an additional 5,011 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Cardinal Health by 4.6% in the third quarter. Teacher Retirement System of Texas now owns 824,347 shares of the company’s stock worth $55,165,000 after acquiring an additional 36,534 shares during the last quarter. Finally, Oakview Capital Management L.P. acquired a new position in shares of Cardinal Health in the third quarter worth $12,908,000. 90.04% of the stock is owned by institutional investors.
In other Cardinal Health news, CEO Jon L. Giacomin sold 7,995 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patricia Morrison sold 28,532 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 36,157 shares of the company’s stock, valued at approximately $2,397,209.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,113 shares of company stock valued at $3,815,073. 0.97% of the stock is owned by company 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 Zacks’ consensus estimate of $1.14 by $0.17. The business had revenue of $35.19 billion during the quarter, compared to the consensus estimate of $34.63 billion. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 earnings per share. analysts expect that Cardinal Health Inc will post 5.42 EPS for the current year.
Cardinal Health announced that its board has initiated a share buyback plan on Thursday, February 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, April 2nd will be given a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, March 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 32.17%.
A number of research firms have recently weighed in on CAH. ValuEngine cut Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Jefferies Group set a $72.00 price target on Cardinal Health and gave the stock a “hold” rating in a report on Friday, February 9th. Zacks Investment Research raised Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Monday, January 29th. Robert W. Baird reissued a “hold” rating and issued a $80.00 price target on shares of Cardinal Health in a report on Wednesday, January 17th. Finally, Evercore ISI began coverage on Cardinal Health in a report on Thursday, January 4th. They issued an “in-line” rating and a $67.00 price target for the company. 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. Cardinal Health currently has an average rating of “Hold” and an average target price of $74.78.
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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