Keystone Financial Planning Inc. increased its stake in Cardinal Health Inc (NYSE:CAH) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,293 shares of the company’s stock after purchasing an additional 3,154 shares during the quarter. Cardinal Health comprises about 2.4% of Keystone Financial Planning Inc.’s portfolio, making the stock its 22nd biggest holding. Keystone Financial Planning Inc.’s holdings in Cardinal Health were worth $4,384,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its holdings in Cardinal Health by 44.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 248,001 shares of the company’s stock worth $12,110,000 after buying an additional 76,816 shares during the period. Schroder Investment Management Group raised its holdings in Cardinal Health by 9.7% during the 2nd quarter. Schroder Investment Management Group now owns 40,834 shares of the company’s stock worth $2,057,000 after buying an additional 3,612 shares during the period. NEXT Financial Group Inc acquired a new stake in Cardinal Health during the 3rd quarter worth about $111,000. Bank of Montreal Can raised its holdings in Cardinal Health by 61.7% during the 3rd quarter. Bank of Montreal Can now owns 440,451 shares of the company’s stock worth $23,784,000 after buying an additional 168,010 shares during the period. Finally, Capital Investment Advisors LLC raised its holdings in Cardinal Health by 7.0% during the 3rd quarter. Capital Investment Advisors LLC now owns 87,704 shares of the company’s stock worth $4,736,000 after buying an additional 5,717 shares during the period. 90.75% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on CAH shares. Zacks Investment Research upgraded Cardinal Health from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Royal Bank of Canada set a $57.00 target price on Cardinal Health and gave the company a “hold” rating in a report on Friday, November 9th. UBS Group assumed coverage on Cardinal Health in a report on Thursday, January 17th. They issued a “neutral” rating and a $51.00 target price on the stock. Morgan Stanley upped their target price on Cardinal Health from $40.00 to $50.00 and gave the company an “underweight” rating in a report on Monday, December 3rd. Finally, ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $59.91.
In other Cardinal Health news, SVP Stuart G. Laws sold 804 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $55.55, for a total transaction of $44,662.20. Following the completion of the sale, the senior vice president now owns 6,342 shares of the company’s stock, valued at $352,298.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.
Shares of Cardinal Health stock opened at $52.29 on Monday. The company has a market cap of $15.70 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 1.67 and a beta of 1.16. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.05 and a quick ratio of 0.51. Cardinal Health Inc has a 12-month low of $42.17 and a 12-month high of $73.23.
Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 7th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.20. The firm had revenue of $37.70 billion during the quarter, compared to analysts’ expectations of $36.09 billion. Cardinal Health had a positive return on equity of 24.01% and a negative net margin of 0.03%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, equities analysts predict that Cardinal Health Inc will post 5.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be given a dividend of $0.4763 per share. The ex-dividend date is Friday, March 29th. This represents a $1.91 dividend on an annualized basis and a yield of 3.64%. Cardinal Health’s payout ratio is currently 38.20%.
Cardinal Health announced that its board has authorized a stock repurchase plan on Thursday, November 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Cardinal Health Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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