Paloma Partners Management Co Acquires 3,993 Shares of Cardinal Health Inc (CAH)

Paloma Partners Management Co lifted its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 3.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 122,607 shares of the company’s stock after acquiring an additional 3,993 shares during the quarter. Paloma Partners Management Co’s holdings in Cardinal Health were worth $7,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CAH. Steward Partners Investment Advisory LLC bought a new stake in Cardinal Health during the 3rd quarter worth approximately $102,000. Ffcm LLC bought a new stake in Cardinal Health during the 4th quarter worth approximately $105,000. JNBA Financial Advisors increased its holdings in Cardinal Health by 615.4% during the 4th quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock worth $114,000 after acquiring an additional 1,600 shares during the period. Cerebellum GP LLC bought a new stake in Cardinal Health during the 4th quarter worth approximately $129,000. Finally, James Hambro & Partners bought a new stake in Cardinal Health during the 4th quarter worth approximately $138,000. 90.04% of the stock is currently owned by institutional investors and hedge funds.

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In other news, insider Patricia Morrison sold 28,532 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total value of $1,891,671.60. Following the completion of the sale, the insider now owns 36,157 shares of the company’s stock, valued at approximately $2,397,209.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jon L. Giacomin sold 7,995 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $68.78, for a total transaction of $549,896.10. Following the completion of the sale, the chief executive officer now directly owns 63,043 shares of the company’s stock, valued at approximately $4,336,097.54. The disclosure for this sale can be found here. Insiders sold a total of 55,113 shares of company stock valued at $3,815,073 in the last ninety days. 0.97% of the stock is owned by corporate insiders.

A number of research firms recently weighed in on CAH. Barclays began coverage on shares of Cardinal Health in a report on Thursday. They set an “equal weight” rating and a $74.00 target price on the stock. Zacks Investment Research lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Bank of America began coverage on shares of Cardinal Health in a report on Tuesday, February 27th. They set an “underperform” rating and a $69.00 target price on the stock. Royal Bank of Canada set a $83.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a report on Thursday, February 8th. Finally, Jefferies Group set a $72.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a report on Friday, February 9th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $74.78.

Cardinal Health Inc (NYSE CAH) opened at $71.16 on Monday. The company has a market cap of $22,394.54, a price-to-earnings ratio of 12.38, a PEG ratio of 1.60 and a beta of 0.95. Cardinal Health Inc has a twelve month low of $54.66 and a twelve month high of $84.88. The company has a quick ratio of 0.57, a current ratio of 1.09 and a debt-to-equity ratio of 1.19.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.17. The firm had revenue of $35.19 billion for the quarter, compared to analyst estimates of $34.63 billion. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.34 EPS. equities research analysts expect that Cardinal Health Inc will post 5.42 earnings per share for the current fiscal year.

Cardinal Health announced that its Board of Directors has initiated a share buyback plan on Thursday, February 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be paid a $0.4624 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.60%. Cardinal Health’s dividend payout ratio (DPR) is 32.17%.

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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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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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