Fieldpoint Private Securities LLC lowered its stake in shares of Cardinal Health Inc (NYSE:CAH) by 26.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,101 shares of the company’s stock after selling 1,800 shares during the quarter. Fieldpoint Private Securities LLC’s holdings in Cardinal Health were worth $313,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in CAH. MetLife Investment Advisors LLC acquired a new position in Cardinal Health in the fourth quarter worth $5,964,000. Endurant Capital Management LP boosted its holdings in Cardinal Health by 17.6% in the fourth quarter. Endurant Capital Management LP now owns 101,771 shares of the company’s stock worth $6,236,000 after purchasing an additional 15,200 shares during the period. Gotham Asset Management LLC acquired a new position in Cardinal Health in the fourth quarter worth $17,018,000. BB&T Securities LLC boosted its holdings in Cardinal Health by 549.1% in the fourth quarter. BB&T Securities LLC now owns 75,413 shares of the company’s stock worth $4,620,000 after purchasing an additional 63,795 shares during the period. Finally, Element Capital Management LLC acquired a new position in Cardinal Health in the fourth quarter worth $43,493,000. 89.98% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Michael C. Kaufmann sold 18,586 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the completion of the transaction, the chief executive officer now owns 211,849 shares of the company’s stock, valued at $15,655,641.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jon L. Giacomin sold 7,995 shares of Cardinal Health stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.78, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 55,113 shares of company stock valued at $3,815,073. Corporate insiders own 0.97% of the company’s stock.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the 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 quarter in the previous year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. sell-side analysts expect that Cardinal Health Inc will post 5.42 EPS for the current year.
Cardinal Health announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 8th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be issued a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio (DPR) is 32.17%.
A number of equities analysts have commented on the stock. TheStreet raised shares of Cardinal Health from a “c+” rating to a “b-” rating in a report on Tuesday, March 13th. Barclays assumed coverage on shares of Cardinal Health in a report on Thursday, March 8th. They issued an “equal weight” rating and a $74.00 price objective for the company. Zacks Investment Research downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Bank of America assumed coverage on shares of Cardinal Health in a report on Tuesday, February 27th. They issued an “underperform” rating and a $69.00 price objective for the company. Finally, Royal Bank of Canada set a $83.00 price objective on shares of Cardinal Health and gave the stock a “hold” rating in a report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Cardinal Health presently has an average rating of “Hold” and a consensus price target of $74.78.
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Cardinal Health 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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