Strategic Wealth Partners Ltd. cut its holdings in Cardinal Health Inc (NYSE:CAH) by 23.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 766 shares of the company’s stock after selling 235 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Cardinal Health were worth $41,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CAH. LFA Lugano Financial Advisors SA acquired a new stake in Cardinal Health during the third quarter worth approximately $108,000. NEXT Financial Group Inc acquired a new stake in Cardinal Health during the third quarter worth approximately $111,000. First Hawaiian Bank acquired a new stake in Cardinal Health during the third quarter worth approximately $125,000. Sentry Investment Management LLC acquired a new stake in Cardinal Health during the second quarter worth approximately $132,000. Finally, Exane Asset Management acquired a new stake in Cardinal Health during the second quarter worth approximately $153,000. Institutional investors and hedge funds own 89.10% of the company’s stock.
CAH has been the topic of a number of analyst reports. Royal Bank of Canada set a $60.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a research report on Friday, September 21st. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Leerink Swann lowered shares of Cardinal Health from an “outperform” rating to a “market perform” rating and set a $55.00 target price on the stock. in a research report on Friday, November 16th. Jefferies Financial Group restated a “hold” rating and set a $61.00 target price on shares of Cardinal Health in a research report on Wednesday, November 14th. Finally, Mizuho restated a “hold” rating and set a $53.00 target price on shares of Cardinal Health in a research report on Sunday, August 12th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Cardinal Health has a consensus rating of “Hold” and a consensus target price of $61.36.
Shares of CAH opened at $53.91 on Friday. The firm has a market capitalization of $16.33 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 1.75 and a beta of 0.92. Cardinal Health Inc has a fifty-two week low of $48.14 and a fifty-two week high of $75.75. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, November 8th. The company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.21. The company had revenue of $35.21 billion for the quarter, compared to analyst estimates of $33.66 billion. Cardinal Health had a net margin of 0.53% and a return on equity of 23.97%. Cardinal Health’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $1.09 EPS. Sell-side analysts forecast that Cardinal Health Inc will post 5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be issued a $0.4763 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.53%. Cardinal Health’s dividend payout ratio (DPR) is presently 38.20%.
Cardinal Health declared that its Board of Directors has authorized a share buyback plan on Thursday, November 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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Cardinal Health Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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