OLD National Bancorp IN cut its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 17.0% in the 4th quarter, HoldingsChannel reports. The fund owned 5,838 shares of the company’s stock after selling 1,196 shares during the period. OLD National Bancorp IN’s holdings in Cardinal Health were worth $358,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. grew its stake in shares of Cardinal Health by 4.6% during the third quarter. Macquarie Group Ltd. now owns 10,105,374 shares of the company’s stock valued at $676,253,000 after acquiring an additional 445,399 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Cardinal Health by 38.6% during the third quarter. Ameriprise Financial Inc. now owns 4,930,457 shares of the company’s stock valued at $329,964,000 after acquiring an additional 1,373,334 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Cardinal Health by 10.8% during the third quarter. Bank of New York Mellon Corp now owns 3,846,209 shares of the company’s stock valued at $257,388,000 after acquiring an additional 375,742 shares in the last quarter. Boston Partners grew its stake in shares of Cardinal Health by 19.8% during the fourth quarter. Boston Partners now owns 3,495,466 shares of the company’s stock valued at $214,167,000 after acquiring an additional 577,099 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Cardinal Health by 15.9% during the fourth quarter. American Century Companies Inc. now owns 3,448,988 shares of the company’s stock valued at $211,319,000 after acquiring an additional 472,212 shares in the last quarter. Institutional investors own 87.55% of the company’s stock.
CAH has been the subject of several recent analyst reports. Mizuho set a $70.00 target price on Cardinal Health and gave the company a “hold” rating in a research note on Tuesday, October 24th. Jefferies Group decreased their price target on Cardinal Health from $77.00 to $67.00 and set a “hold” rating for the company in a research note on Tuesday, November 7th. Zacks Investment Research upgraded Cardinal Health from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Argus downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Morgan Stanley downgraded Cardinal Health from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 20th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $75.84.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.17. The company had revenue of $35.19 billion for the quarter, compared to analysts’ expectations of $34.63 billion. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 earnings per share. sell-side analysts forecast that Cardinal Health Inc will post 5.44 EPS for the current year.
The firm 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. The ex-dividend date is Thursday, March 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.75%. Cardinal Health’s dividend payout ratio (DPR) is presently 32.17%.
Cardinal Health announced that its board has authorized a share buyback plan on Thursday, February 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other news, CEO Michael C. Kaufmann sold 18,586 shares of Cardinal Health stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the sale, the chief executive officer now owns 211,849 shares of the company’s stock, valued at $15,655,641.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.97% of the company’s stock.
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Cardinal Health Company 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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