Renaissance Technologies LLC purchased a new position in Cardinal Health (NYSE:CAH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 77,900 shares of the company’s stock, valued at approximately $4,773,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of CAH. Dimensional Fund Advisors LP lifted its position in shares of Cardinal Health by 8.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 979,215 shares of the company’s stock worth $65,529,000 after purchasing an additional 73,087 shares during the period. Janus Henderson Group PLC lifted its position in shares of Cardinal Health by 77.8% during the 3rd quarter. Janus Henderson Group PLC now owns 108,930 shares of the company’s stock valued at $7,291,000 after acquiring an additional 47,669 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Cardinal Health by 1.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 164,931 shares of the company’s stock valued at $11,037,000 after acquiring an additional 2,897 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Cardinal Health during the 3rd quarter valued at $102,000. Finally, Atlantic Trust Group LLC acquired a new position in shares of Cardinal Health during the 3rd quarter valued at $3,685,000. Hedge funds and other institutional investors own 90.02% 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 on Tuesday, February 20th. The shares were sold at an average price of $68.78, for a total transaction of $549,896.10. Following the transaction, the chief executive officer now owns 63,043 shares in the company, valued at $4,336,097.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Patricia Morrison sold 28,532 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,397,209.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,113 shares of company stock worth $3,815,073. Corporate insiders own 0.97% of the company’s stock.
CAH opened at $63.19 on Wednesday. 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 has a 1-year low of $54.66 and a 1-year high of $80.37. The firm has a market cap of $19,603.09, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $35.19 billion for the quarter, compared to the consensus estimate of $34.63 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. equities research analysts anticipate that Cardinal Health will post 5.41 earnings per share for the current year.
Cardinal Health announced that its board has initiated a stock buyback program on Thursday, February 8th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 15th. Shareholders of record on Monday, April 2nd were issued a dividend of $0.4624 per share. The ex-dividend date was Thursday, March 29th. This represents a $1.85 annualized dividend and a yield of 2.93%. Cardinal Health’s payout ratio is 34.26%.
CAH has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Monday, January 29th. Jefferies Group set a $72.00 target price on shares of Cardinal Health and gave the company a “hold” rating in a research report on Friday, February 9th. Barclays initiated coverage on shares of Cardinal Health in a research report on Thursday, March 8th. They set an “equal weight” rating and a $74.00 target price on the stock. ValuEngine downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Royal Bank of Canada set a $83.00 target price on shares of Cardinal Health and gave the company a “hold” rating in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Cardinal Health has an average rating of “Hold” and an average price target of $74.13.
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About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company worldwide. The company's Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare, and consumer products to retailers, hospitals, and other healthcare providers.
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