Mutual of America Capital Management LLC raised its stake in shares of Cardinal Health Inc (NYSE:CAH) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,431 shares of the company’s stock after acquiring an additional 2,033 shares during the period. Mutual of America Capital Management LLC’s holdings in Cardinal Health were worth $2,477,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at approximately $102,000. Advisory Services Network LLC raised its stake in Cardinal Health by 18.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock valued at $136,000 after acquiring an additional 270 shares during the last quarter. JNBA Financial Advisors raised its stake in shares of 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 buying an additional 1,600 shares in the last quarter. Cerebellum GP LLC purchased a new position in shares of Cardinal Health during the 4th quarter worth approximately $129,000. Finally, First PREMIER Bank purchased a new position in shares of Cardinal Health during the 4th quarter worth approximately $163,000. 87.55% of the stock is owned by hedge funds and other institutional investors.
CAH has been the subject of a number of analyst reports. Morgan Stanley downgraded Cardinal Health from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 20th. Argus downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Mizuho set a $70.00 target price on Cardinal Health and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Deutsche Bank initiated coverage on Cardinal Health in a research note on Monday, December 4th. They set a “hold” rating and a $64.00 target price for the company. Finally, Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average 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, topping analysts’ consensus estimates of $1.14 by $0.17. The business 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 company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 EPS. analysts expect that Cardinal Health Inc will post 5.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, April 2nd will be issued a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio is currently 32.17%.
Cardinal Health announced that its board has authorized a share repurchase program on Thursday, February 8th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, CEO Michael C. Kaufmann sold 18,586 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $73.90, for a total value of $1,373,505.40. Following the sale, the chief executive officer now owns 211,849 shares in the company, valued at approximately $15,655,641.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.
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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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