Spark Investment Management LLC boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 21.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 127,700 shares of the company’s stock after buying an additional 22,300 shares during the period. Cardinal Health comprises 0.7% of Spark Investment Management LLC’s holdings, making the stock its 16th largest position. Spark Investment Management LLC’s holdings in Cardinal Health were worth $10,413,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barber Financial Group Inc. purchased a new position in Cardinal Health during the fourth quarter valued at $361,000. TCW Group Inc. boosted its position in Cardinal Health by 82.4% in the fourth quarter. TCW Group Inc. now owns 929,532 shares of the company’s stock worth $66,898,000 after buying an additional 420,012 shares during the last quarter. Tredje AP fonden boosted its position in Cardinal Health by 1.1% in the fourth quarter. Tredje AP fonden now owns 26,884 shares of the company’s stock worth $1,947,000 after buying an additional 300 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Cardinal Health by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 823,609 shares of the company’s stock worth $59,278,000 after buying an additional 21,749 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in Cardinal Health by 5.7% in the fourth quarter. Private Advisor Group LLC now owns 5,377 shares of the company’s stock worth $396,000 after buying an additional 288 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.
Cardinal Health, Inc. (NYSE:CAH) traded down 1.25% during mid-day trading on Friday, reaching $74.99. 2,494,111 shares of the company were exchanged. The stock has a market capitalization of $23.69 billion, a price-to-earnings ratio of 17.90 and a beta of 0.80. The stock has a 50 day moving average of $73.56 and a 200-day moving average of $76.20. Cardinal Health, Inc. has a one year low of $62.70 and a one year high of $85.52.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Monday, May 1st. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.07. Cardinal Health had a net margin of 1.05% and a return on equity of 25.78%. The business had revenue of $31.82 billion for the quarter, compared to the consensus estimate of $32.30 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts expect that Cardinal Health, Inc. will post $5.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Monday, July 3rd will be issued a dividend of $0.4624 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.85 annualized dividend and a yield of 2.47%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.45. Cardinal Health’s payout ratio is currently 42.86%.
A number of research analysts have weighed in on CAH shares. Vetr cut shares of Cardinal Health from a “hold” rating to a “sell” rating and set a $79.00 target price on the stock. in a research note on Monday, February 27th. Tigress Financial started coverage on shares of Cardinal Health in a research note on Friday, April 28th. They issued a “neutral” rating on the stock. Zacks Investment Research cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Credit Suisse Group reiterated a “buy” rating and issued a $81.00 target price on shares of Cardinal Health in a research note on Tuesday, May 2nd. Finally, Barclays PLC reiterated an “overweight” rating and issued a $82.00 target price (down from $88.00) on shares of Cardinal Health in a research note on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $82.64.
In other Cardinal Health news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of Cardinal Health stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the transaction, the insider now owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is owned by insiders.
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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