ARP Americas LP reduced its position in shares of Cardinal Health Inc (NYSE:CAH) by 27.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,628 shares of the company’s stock after selling 3,972 shares during the quarter. ARP Americas LP’s holdings in Cardinal Health were worth $574,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA bought a new stake in Cardinal Health during the 3rd quarter valued at about $108,000. NEXT Financial Group Inc bought a new stake in Cardinal Health during the 3rd quarter valued at about $111,000. Mount Yale Investment Advisors LLC bought a new stake in Cardinal Health during the 1st quarter valued at about $136,000. First Hawaiian Bank bought a new stake in Cardinal Health during the 3rd quarter valued at about $125,000. Finally, Sentry Investment Management LLC bought a new stake in Cardinal Health during the 2nd quarter valued at about $132,000. Institutional investors and hedge funds own 90.59% of the company’s stock.
Shares of CAH stock opened at $49.92 on Friday. Cardinal Health Inc has a 52 week low of $48.14 and a 52 week high of $75.75. The company has a market capitalization of $15.19 billion, a PE ratio of 9.98, a P/E/G ratio of 1.60 and a beta of 1.02. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.07 and a quick ratio of 0.53.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were given a dividend of $0.4763 per share. This represents a $1.91 annualized dividend and a yield of 3.82%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, September 28th. Cardinal Health’s payout ratio is 38.20%.
A number of analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Cardinal Health from $55.00 to $40.00 and set an “underweight” rating for the company in a research note on Tuesday, July 3rd. Zacks Investment Research upgraded shares of Cardinal Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Argus reduced their price target on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, July 16th. Robert W. Baird reiterated a “hold” rating and issued a $51.00 price target on shares of Cardinal Health in a research note on Friday, July 20th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $56.00 price target on shares of Cardinal Health in a research note on Tuesday, August 7th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Cardinal Health currently has a consensus rating of “Hold” and an average target price of $61.33.
In related news, CEO Jon L. Giacomin sold 2,890 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $51.95, for a total transaction of $150,135.50. Following the completion of the sale, the chief executive officer now directly owns 72,652 shares in the company, valued at $3,774,271.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.
Cardinal Health Company 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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