Traders Buy Large Volume of Cardinal Health Put Options (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH) was the recipient of unusually large options trading on Friday. Investors acquired 6,884 put options on the stock. This represents an increase of 27% compared to the average volume of 5,405 put options.

Cardinal Health Stock Down 0.2 %

Cardinal Health stock opened at $136.43 on Friday. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $137.18. The firm has a market cap of $32.96 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The business’s 50-day moving average price is $128.36 and its 200 day moving average price is $120.76.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities analysts expect that Cardinal Health will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is currently 37.69%.

Institutional Investors Weigh In On Cardinal Health

A number of institutional investors have recently modified their holdings of CAH. Wellington Management Group LLP boosted its position in Cardinal Health by 687.0% during the fourth quarter. Wellington Management Group LLP now owns 134,951 shares of the company’s stock worth $15,961,000 after purchasing an additional 117,803 shares in the last quarter. 111 Capital purchased a new position in shares of Cardinal Health during the 4th quarter valued at approximately $560,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Cardinal Health in the 4th quarter valued at $9,576,000. Smith Shellnut Wilson LLC ADV increased its holdings in Cardinal Health by 4.1% in the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 4,308 shares of the company’s stock worth $510,000 after acquiring an additional 168 shares in the last quarter. Finally, Siemens Fonds Invest GmbH raised its position in Cardinal Health by 2,320.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 63,549 shares of the company’s stock worth $7,516,000 after acquiring an additional 60,923 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAH has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Mizuho started coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.36.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.