Blair William & Co. IL lessened its stake in shares of Cardinal Health Inc (NYSE:CAH) by 10.4% during the third quarter, HoldingsChannel reports. The firm owned 23,264 shares of the company’s stock after selling 2,702 shares during the period. Blair William & Co. IL’s holdings in Cardinal Health were worth $1,256,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Stratos Wealth Partners LTD. lifted its stake in shares of Cardinal Health by 11.8% during the third quarter. Stratos Wealth Partners LTD. now owns 9,312 shares of the company’s stock worth $503,000 after purchasing an additional 980 shares in the last quarter. Redwood Investment Management LLC increased its position in shares of Cardinal Health by 23.6% during the third quarter. Redwood Investment Management LLC now owns 5,439 shares of the company’s stock worth $294,000 after acquiring an additional 1,038 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Cardinal Health by 0.9% during the third quarter. Brown Advisory Inc. now owns 112,968 shares of the company’s stock worth $6,100,000 after acquiring an additional 1,046 shares during the last quarter. World Asset Management Inc increased its position in shares of Cardinal Health by 4.2% during the third quarter. World Asset Management Inc now owns 26,721 shares of the company’s stock worth $1,443,000 after acquiring an additional 1,078 shares during the last quarter. Finally, Sigma Planning Corp increased its position in shares of Cardinal Health by 17.0% during the second quarter. Sigma Planning Corp now owns 8,650 shares of the company’s stock worth $422,000 after acquiring an additional 1,256 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.
Shares of NYSE CAH opened at $53.91 on Friday. Cardinal Health Inc has a 1 year low of $48.14 and a 1 year high of $75.75. The stock has a market cap of $16.41 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 1.06.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, November 8th. The company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.21. The firm had revenue of $35.21 billion during the quarter, compared to analyst estimates of $33.66 billion. Cardinal Health had a return on equity of 23.97% and a net margin of 0.53%. Cardinal Health’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share. Equities research analysts anticipate that Cardinal Health Inc will post 5 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be issued a $0.4763 dividend. This represents a $1.91 annualized dividend and a yield of 3.53%. The ex-dividend date is Monday, December 31st. Cardinal Health’s dividend payout ratio is currently 38.20%.
Cardinal Health announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 8th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of analysts have recently issued reports on the company. Leerink Swann lowered 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 reaffirmed a “hold” rating and set a $61.00 target price on shares of Cardinal Health in a research report on Wednesday, November 14th. ValuEngine raised Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Monday, November 12th. Royal Bank of Canada set a $60.00 target price on Cardinal Health and gave the stock a “hold” rating in a research report on Friday, September 21st. Finally, Mizuho reaffirmed a “hold” rating and set a $53.00 target price on shares of Cardinal Health in a research report on Sunday, August 12th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Cardinal Health presently has a consensus rating of “Hold” and a consensus price target of $61.36.
In related news, SVP Stuart G. Laws sold 804 shares of the business’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $55.55, for a total value of $44,662.20. Following the completion of the sale, the senior vice president now directly owns 6,342 shares of the company’s stock, valued at $352,298.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.
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Cardinal Health Company 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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