First PREMIER Bank boosted its holdings in Cardinal Health Inc (NYSE:CAH) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,570 shares of the company’s stock after acquiring an additional 410 shares during the period. First PREMIER Bank’s holdings in Cardinal Health were worth $293,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA acquired a new position in Cardinal Health in the third quarter valued at approximately $108,000. NEXT Financial Group Inc purchased a new stake in Cardinal Health in the third quarter valued at approximately $111,000. First Hawaiian Bank purchased a new stake in Cardinal Health in the third quarter valued at approximately $125,000. Exane Asset Management purchased a new stake in Cardinal Health in the second quarter valued at approximately $153,000. Finally, Stelac Advisory Services LLC acquired a new position in Cardinal Health in the third quarter valued at $164,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.
NYSE CAH traded down $0.16 during trading hours on Monday, hitting $47.43. 98,734 shares of the stock were exchanged, compared to its average volume of 3,051,713. The stock has a market capitalization of $13.88 billion, a P/E ratio of 9.48, a P/E/G ratio of 1.50 and a beta of 1.06. Cardinal Health Inc has a 12-month low of $42.17 and a 12-month high of $75.75. The company has a quick ratio of 0.52, a current ratio of 1.06 and a debt-to-equity ratio of 1.35.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, November 8th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.21. The firm had revenue of $35.21 billion during the quarter, compared to analysts’ expectations of $33.66 billion. Cardinal Health had a net margin of 0.53% and a return on equity of 23.97%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. On average, equities research analysts expect that Cardinal Health Inc will post 5 earnings per share for the current fiscal year.
Cardinal Health declared that its Board of Directors has authorized a share buyback program on Thursday, November 8th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be issued a $0.4763 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.91 dividend on an annualized basis and a yield of 4.02%. Cardinal Health’s dividend payout ratio (DPR) is presently 38.20%.
In other Cardinal Health news, SVP Stuart G. Laws sold 804 shares of the stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $55.55, for a total value of $44,662.20. Following the completion of the transaction, 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 is available at this link. Company insiders own 1.10% of the company’s stock.
Several brokerages have recently weighed in on CAH. Leerink Swann downgraded shares of Cardinal Health from an “outperform” rating to a “market perform” rating and set a $55.00 target price for the company. in a research note on Friday, November 16th. ValuEngine downgraded shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 18th. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Wednesday, January 9th. Jefferies Financial Group reiterated a “hold” rating and set a $61.00 target price on shares of Cardinal Health in a research note on Wednesday, November 14th. Finally, Royal Bank of Canada set a $60.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a research note on Friday, September 21st. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Cardinal Health has a consensus rating of “Hold” and a consensus target price of $60.80.
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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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