Redpoint Investment Management Pty Ltd Raises Position in Cardinal Health Inc (CAH)

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Redpoint Investment Management Pty Ltd boosted its stake in Cardinal Health Inc (NYSE:CAH) by 100.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,002 shares of the company’s stock after purchasing an additional 34,638 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Cardinal Health were worth $3,077,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Toth Financial Advisory Corp lifted its stake in Cardinal Health by 5.2% in the 4th quarter. Toth Financial Advisory Corp now owns 6,857 shares of the company’s stock valued at $306,000 after purchasing an additional 339 shares during the last quarter. Gemmer Asset Management LLC lifted its stake in Cardinal Health by 172.4% in the 4th quarter. Gemmer Asset Management LLC now owns 553 shares of the company’s stock valued at $25,000 after purchasing an additional 350 shares during the last quarter. First PREMIER Bank raised its stake in shares of Cardinal Health by 6.7% during the fourth quarter. First PREMIER Bank now owns 6,570 shares of the company’s stock valued at $293,000 after acquiring an additional 410 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Cardinal Health by 12.6% during the fourth quarter. Wetherby Asset Management Inc. now owns 5,222 shares of the company’s stock valued at $233,000 after acquiring an additional 586 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of Cardinal Health during the fourth quarter valued at $32,000. 90.75% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently issued reports on CAH. Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a research note on Monday. ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Friday. UBS Group began coverage on shares of Cardinal Health in a research note on Thursday, January 17th. They set a “neutral” rating and a $51.00 price target for the company. Morgan Stanley raised their price target on shares of Cardinal Health from $40.00 to $50.00 and gave the company an “underweight” rating in a research note on Monday, December 3rd. Finally, Leerink Swann downgraded shares of Cardinal Health from an “outperform” rating to a “market perform” rating and set a $55.00 price target for the company. in a research note on Friday, November 16th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $59.91.

CAH stock opened at $53.19 on Tuesday. The firm has a market cap of $15.85 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.67 and a beta of 1.16. Cardinal Health Inc has a 52-week low of $42.17 and a 52-week high of $73.23. The company has a quick ratio of 0.51, a current ratio of 1.05 and a debt-to-equity ratio of 1.26.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 7th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.20. Cardinal Health had a negative net margin of 0.03% and a positive return on equity of 24.01%. The firm had revenue of $37.70 billion during the quarter, compared to the consensus estimate of $36.09 billion. During the same quarter last year, the firm earned $1.31 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts predict that Cardinal Health Inc will post 5.06 EPS for the current year.

Cardinal Health declared that its Board of Directors has authorized a share repurchase program on Thursday, November 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be paid a dividend of $0.4763 per share. This represents a $1.91 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Friday, March 29th. Cardinal Health’s dividend payout ratio is presently 38.20%.

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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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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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