Teachers Advisors LLC cut its stake in Cardinal Health Inc (NYSE:CAH) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,653,161 shares of the company’s stock after selling 38,595 shares during the period. Teachers Advisors LLC owned about 0.53% of Cardinal Health worth $101,289,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. grew 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 acquiring an additional 3,235,076 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Cardinal Health by 4.6% in the third quarter. Macquarie Group Ltd. now owns 10,105,374 shares of the company’s stock worth $676,253,000 after purchasing an additional 445,399 shares during the last quarter. American International Group Inc. lifted its stake in Cardinal Health by 5,859.3% in the fourth quarter. American International Group Inc. now owns 7,969,384 shares of the company’s stock worth $488,284,000 after purchasing an additional 7,835,654 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 1,203,015 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Cardinal Health by 38.6% in the third quarter. Ameriprise Financial Inc. now owns 4,930,457 shares of the company’s stock worth $329,964,000 after purchasing an additional 1,373,334 shares during the last quarter. Institutional investors own 90.04% of the company’s stock.
In other Cardinal Health news, CEO Jon L. Giacomin sold 7,995 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.78, for a total value of $549,896.10. Following the sale, the chief executive officer now owns 63,043 shares in the company, valued at $4,336,097.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patricia Morrison sold 28,532 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $66.30, for a total transaction of $1,891,671.60. Following the completion of the sale, the insider now owns 36,157 shares in the company, valued at approximately $2,397,209.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,113 shares of company stock worth $3,815,073. Corporate insiders own 0.97% of the company’s stock.
Cardinal Health Inc (NYSE:CAH) opened at $72.27 on Wednesday. Cardinal Health Inc has a one year low of $54.66 and a one year high of $84.88. The stock has a market cap of $22,772.19, a PE ratio of 12.57, a P/E/G ratio of 1.63 and a beta of 0.95. The company has a quick ratio of 0.57, a current ratio of 1.09 and a debt-to-equity ratio of 1.19.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.17. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The company had revenue of $35.19 billion during the quarter, compared to the consensus estimate of $34.63 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. Cardinal Health’s revenue was up 6.1% on a year-over-year basis. analysts anticipate that Cardinal Health Inc will post 5.42 EPS for the current year.
Cardinal Health announced that its board has approved a share buyback plan on Thursday, February 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, April 2nd will be issued a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 32.17%.
CAH has been the subject of several recent research reports. Zacks Investment Research raised shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Monday, January 29th. Barclays began coverage on shares of Cardinal Health in a research note on Thursday, March 8th. They set an “equal weight” rating and a $74.00 price objective for the company. Argus downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Jefferies Group set a $72.00 price objective on shares of Cardinal Health and gave the company a “hold” rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada set a $83.00 price objective on shares of Cardinal Health and gave the company a “hold” rating in a research note on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $74.78.
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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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