Capital One National Association Sells 1,104 Shares of Cardinal Health Inc (CAH)
Capital One National Association lessened its holdings in Cardinal Health Inc (NYSE:CAH) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,202 shares of the company’s stock after selling 1,104 shares during the quarter. Capital One National Association’s holdings in Cardinal Health were worth $687,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in Cardinal Health in the third quarter worth about $102,000. Ffcm LLC purchased a new stake in Cardinal Health in the fourth quarter worth about $105,000. JNBA Financial Advisors grew its holdings in Cardinal Health by 615.4% in the fourth quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock worth $114,000 after purchasing an additional 1,600 shares during the period. Cerebellum GP LLC purchased a new stake in Cardinal Health in the fourth quarter worth about $129,000. Finally, Advisory Services Network LLC grew its holdings in Cardinal Health by 18.4% in the second quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock worth $136,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 87.55% of the company’s stock.
CAH has been the topic of a number of recent research reports. Morgan Stanley cut shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a report on Monday, November 20th. Deutsche Bank initiated coverage on shares of Cardinal Health in a report on Monday, December 4th. They issued a “hold” rating and a $64.00 price objective on the stock. Argus cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Evercore ISI began coverage on shares of Cardinal Health in a report on Thursday, January 4th. They set an “in-line” rating and a $67.00 price target on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Cardinal Health has an average rating of “Hold” and an average target price of $75.84.
Shares of Cardinal Health Inc (NYSE CAH) opened at $65.69 on Wednesday. Cardinal Health Inc has a fifty-two week low of $54.66 and a fifty-two week high of $84.88. The company has a current ratio of 1.09, a quick ratio of 0.57 and a debt-to-equity ratio of 1.19. The company has a market cap of $21,409.51, a P/E ratio of 11.42, a PEG ratio of 1.48 and a beta of 0.96.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $35.19 billion for the quarter, compared to analysts’ expectations of $34.63 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. sell-side analysts forecast that Cardinal Health Inc will post 5.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, April 2nd will be given a dividend of $0.4624 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.82%. Cardinal Health’s dividend payout ratio (DPR) is 32.17%.
Cardinal Health declared that its Board of Directors has authorized a share buyback plan on Thursday, February 8th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
About Cardinal Health
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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