Cardinal Health Inc (CAH) Shares Bought by Swiss National Bank
Swiss National Bank raised its holdings in Cardinal Health Inc (NYSE:CAH) by 0.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,165,348 shares of the company’s stock after acquiring an additional 2,200 shares during the period. Swiss National Bank’s holdings in Cardinal Health were worth $71,401,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new stake in Cardinal Health in the 3rd quarter valued at approximately $102,000. Advisory Services Network LLC grew its holdings in Cardinal Health by 18.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock valued at $136,000 after buying an additional 270 shares during the last quarter. JNBA Financial Advisors grew its holdings in Cardinal Health by 615.4% in the 4th quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock valued at $114,000 after buying an additional 1,600 shares during the last quarter. Cerebellum GP LLC acquired a new stake in Cardinal Health in the 4th quarter valued at approximately $129,000. Finally, First PREMIER Bank acquired a new stake in Cardinal Health in the 4th quarter valued at approximately $163,000. 87.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cardinal Health Inc (CAH) opened at $67.34 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.57. The company has a market capitalization of $20,673.10, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.42 and a beta of 0.96. Cardinal Health Inc has a one year low of $54.66 and a one year high of $84.88.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, April 2nd will be paid a $0.4624 dividend. This represents a $1.85 annualized dividend and a yield of 2.75%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio is 32.17%.
Cardinal Health announced that its Board of Directors has approved a stock buyback plan on Thursday, February 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Several brokerages have recently weighed in on CAH. Evercore ISI began coverage on Cardinal Health in a report on Thursday, January 4th. They set an “in-line” rating and a $67.00 price objective on the stock. Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Mizuho set a $70.00 price objective on Cardinal Health and gave the stock a “hold” rating in a report on Tuesday, October 24th. Jefferies Group set a $72.00 price objective on Cardinal Health and gave the stock a “hold” rating in a report on Friday, February 9th. Finally, Morgan Stanley lowered Cardinal Health from an “equal weight” rating to an “underweight” rating in a report on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $75.84.
In related news, CEO Michael C. Kaufmann sold 18,586 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $15,655,641.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.97% of the stock is owned by insiders.
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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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