Riverbridge Partners LLC Has $1.70 Million Position in Cardinal Health Inc (CAH)
Riverbridge Partners LLC increased its holdings in Cardinal Health Inc (NYSE:CAH) by 40.8% during the fourth quarter, Holdings Channel reports. The fund owned 27,736 shares of the company’s stock after acquiring an additional 8,037 shares during the quarter. Riverbridge Partners LLC’s holdings in Cardinal Health were worth $1,699,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. APG Asset Management N.V. grew its position in Cardinal Health by 1.4% in the 4th quarter. APG Asset Management N.V. now owns 128,807 shares of the company’s stock worth $6,572,000 after purchasing an additional 1,772 shares in the last quarter. Denali Advisors LLC grew its position in Cardinal Health by 8.0% in the 4th quarter. Denali Advisors LLC now owns 109,900 shares of the company’s stock worth $6,734,000 after purchasing an additional 8,100 shares in the last quarter. Cerebellum GP LLC bought a new stake in Cardinal Health in the 4th quarter worth about $129,000. FNY Managed Accounts LLC bought a new stake in Cardinal Health in the 4th quarter worth about $458,000. Finally, Osborn Williams & Donohoe LLC grew its position in Cardinal Health by 28.2% in the 4th quarter. Osborn Williams & Donohoe LLC now owns 28,230 shares of the company’s stock worth $1,730,000 after purchasing an additional 6,205 shares in the last quarter. Institutional investors own 88.23% of the company’s stock.
A number of equities research analysts have issued reports on CAH shares. Cowen raised shares of Cardinal Health to a “buy” rating and set a $74.00 price objective for the company in a research report on Tuesday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardinal Health in a research report on Thursday, October 12th. Mizuho set a $70.00 price objective on shares of Cardinal Health and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Jefferies Group reduced their price objective on shares of Cardinal Health from $77.00 to $67.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Finally, Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. Cardinal Health has an average rating of “Hold” and an average target price of $73.83.
Cardinal Health (NYSE:CAH) last released its earnings results on Monday, November 6th. The company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.09. Cardinal Health had a net margin of 0.84% and a return on equity of 25.24%. The firm had revenue of $32.64 billion during the quarter, compared to the consensus estimate of $33.48 billion. During the same period in the prior year, the firm earned $1.24 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. sell-side analysts anticipate that Cardinal Health Inc will post 5.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd were given a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Friday, December 29th. Cardinal Health’s dividend payout ratio is currently 53.94%.
In other news, CEO Michael C. Kaufmann sold 18,586 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the completion of the transaction, the chief executive officer now directly owns 211,849 shares of the company’s stock, valued at approximately $15,655,641.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is owned by corporate insiders.
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Cardinal Health Company 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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