Traders Sell Cardinal Health (CAH) on Strength (CAH)
Investors sold shares of Cardinal Health Inc (NYSE:CAH) on strength during trading on Thursday. $72.77 million flowed into the stock on the tick-up and $85.10 million flowed out of the stock on the tick-down, for a money net flow of $12.33 million out of the stock. Of all companies tracked, Cardinal Health had the 10th highest net out-flow for the day. Cardinal Health traded up $1.49 for the day and closed at $66.63
Several brokerages have issued reports on CAH. ValuEngine cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Robert W. Baird reiterated a “hold” rating and set a $80.00 target price on shares of Cardinal Health in a report on Wednesday, January 17th. Zacks Investment Research upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Monday, January 29th. Mizuho set a $73.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a report on Wednesday, January 24th. Finally, Evercore ISI began coverage on shares of Cardinal Health in a report on Thursday, January 4th. They set an “in-line” rating and a $67.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $74.61.
The stock has a market cap of $20,960.00, a PE ratio of 19.43, a P/E/G ratio of 1.49 and a beta of 0.95. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 1.06.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, April 2nd will be given a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, March 29th. Cardinal Health’s payout ratio is 53.94%.
Cardinal Health announced that its board has approved a stock buyback plan on Thursday, February 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
In related 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 value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.97% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. First Allied Advisory Services Inc. raised its position in shares of Cardinal Health by 51.6% in the 4th quarter. First Allied Advisory Services Inc. now owns 18,657 shares of the company’s stock valued at $1,141,000 after purchasing an additional 6,354 shares during the last quarter. MUFG Americas Holdings Corp raised its position in shares of Cardinal Health by 490.2% in the 4th quarter. MUFG Americas Holdings Corp now owns 3,010 shares of the company’s stock valued at $184,000 after purchasing an additional 2,500 shares during the last quarter. Advisory Services Network LLC raised its position in shares of Cardinal Health by 262.1% in the 4th quarter. Advisory Services Network LLC now owns 3,422 shares of the company’s stock valued at $210,000 after purchasing an additional 2,477 shares during the last quarter. Global X Management Co. LLC raised its position in shares of Cardinal Health by 114.9% in the 4th quarter. Global X Management Co. LLC now owns 10,230 shares of the company’s stock valued at $627,000 after purchasing an additional 5,470 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Cardinal Health by 13.0% in the 4th quarter. Toronto Dominion Bank now owns 135,627 shares of the company’s stock valued at $8,310,000 after purchasing an additional 15,613 shares during the last quarter. 88.00% of the stock is owned by hedge funds and other institutional investors.
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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