IFM Investors Pty Ltd boosted its position in Cardinal Health Inc (NYSE:CAH) by 13.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,389 shares of the company’s stock after purchasing an additional 1,910 shares during the quarter. IFM Investors Pty Ltd’s holdings in Cardinal Health were worth $885,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. World Asset Management Inc grew its stake in shares of Cardinal Health by 4.2% in the third quarter. World Asset Management Inc now owns 26,721 shares of the company’s stock worth $1,443,000 after acquiring an additional 1,078 shares during the last quarter. Sigma Planning Corp grew its stake in shares of Cardinal Health by 17.0% in the second quarter. Sigma Planning Corp now owns 8,650 shares of the company’s stock worth $422,000 after acquiring an additional 1,256 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Cardinal Health by 23.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,826 shares of the company’s stock worth $333,000 after acquiring an additional 1,287 shares during the last quarter. Wrapmanager Inc. grew its stake in shares of Cardinal Health by 23.4% in the second quarter. Wrapmanager Inc. now owns 6,836 shares of the company’s stock worth $334,000 after acquiring an additional 1,297 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its stake in shares of Cardinal Health by 42.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,422 shares of the company’s stock worth $216,000 after acquiring an additional 1,314 shares during the last quarter. Institutional investors and hedge funds own 90.59% of the company’s stock.
Cardinal Health stock opened at $49.92 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.53 and a current ratio of 1.07. Cardinal Health Inc has a one year low of $48.14 and a one year high of $75.75. The firm has a market cap of $14.97 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 1.58 and a beta of 1.02.
The firm also recently disclosed 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. The ex-dividend date was Friday, September 28th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 3.82%. Cardinal Health’s dividend payout ratio (DPR) is 38.20%.
In related news, CEO Jon L. Giacomin sold 2,890 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $51.95, for a total transaction of $150,135.50. Following the sale, the chief executive officer now directly owns 72,652 shares of the company’s stock, valued at $3,774,271.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.
CAH has been the topic of a number of recent research reports. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Royal Bank of Canada reissued a “hold” rating and issued a $56.00 target price on shares of Cardinal Health in a research note on Tuesday, August 7th. Mizuho reissued a “hold” rating and issued a $53.00 target price on shares of Cardinal Health in a research note on Sunday, August 12th. Argus cut their target price on Cardinal Health from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, July 16th. Finally, Robert W. Baird reissued a “hold” rating and issued a $51.00 target price on shares of Cardinal Health in a research note on Friday, July 20th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $61.33.
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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