Barrow Hanley Mewhinney & Strauss LLC decreased its stake in Cardinal Health Inc (NYSE:CAH) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,876,233 shares of the company’s stock after selling 2,175,663 shares during the quarter. Cardinal Health makes up 1.6% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its 28th biggest holding. Barrow Hanley Mewhinney & Strauss LLC owned 0.06% of Cardinal Health worth $1,095,277,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in Cardinal Health by 127.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,477 shares of the company’s stock worth $152,000 after buying an additional 1,388 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Cardinal Health by 3.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,174,405 shares of the company’s stock worth $71,956,000 after buying an additional 38,308 shares in the last quarter. BlackRock Inc. increased its position in Cardinal Health by 15.0% in the fourth quarter. BlackRock Inc. now owns 24,845,043 shares of the company’s stock worth $1,522,257,000 after buying an additional 3,235,076 shares in the last quarter. Schroder Investment Management Group increased its position in Cardinal Health by 153.1% in the fourth quarter. Schroder Investment Management Group now owns 77,933 shares of the company’s stock worth $4,775,000 after buying an additional 47,137 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Cardinal Health by 31.3% in the fourth quarter. Bank of New York Mellon Corp now owns 5,049,224 shares of the company’s stock worth $309,366,000 after buying an additional 1,203,015 shares in the last quarter. Institutional investors and hedge funds own 87.55% of the company’s stock.
In related news, CEO Michael C. Kaufmann sold 18,586 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the completion of the transaction, the chief executive officer now directly owns 211,849 shares of the company’s stock, valued at $15,655,641.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Patricia Morrison sold 28,532 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 36,157 shares of the company’s stock, valued at $2,397,209.10. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.
CAH has been the subject of several research analyst reports. Evercore ISI initiated coverage on Cardinal Health in a research report on Thursday, January 4th. They set an “in-line” rating and a $67.00 target price for the company. Zacks Investment Research upgraded Cardinal Health from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Mizuho set a $70.00 target price on Cardinal Health and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Jefferies Group set a $72.00 target price on Cardinal Health and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Morgan Stanley cut Cardinal Health from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 20th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Cardinal Health currently has an average rating of “Hold” and an average target price of $75.84.
Cardinal Health Inc (CAH) opened at $69.34 on Friday. Cardinal Health Inc has a one year low of $54.66 and a one year high of $84.88. The company has a market capitalization of $21,820.00, a P/E ratio of 23.75, a P/E/G ratio of 1.49 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.57 and a current ratio of 1.09.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $34.63 billion. During the same period in the prior year, the company earned $1.34 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. equities analysts anticipate that Cardinal Health Inc will post 5.38 EPS for the current year.
Cardinal Health declared that its Board of Directors has approved a share repurchase plan on Thursday, February 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically 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. Investors of record on Monday, April 2nd will be paid a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s payout ratio is presently 63.36%.
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Cardinal Health 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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