AMP Capital Investors Ltd trimmed its position in shares of Cardinal Health Inc (NYSE:CAH) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,071 shares of the company’s stock after selling 4,497 shares during the quarter. AMP Capital Investors Ltd’s holdings in Cardinal Health were worth $7,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of CAH. Macquarie Group Ltd. grew its stake in shares of Cardinal Health by 19.7% during the second quarter. Macquarie Group Ltd. now owns 12,544,267 shares of the company’s stock valued at $612,537,000 after purchasing an additional 2,067,829 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Cardinal Health by 23.9% during the third quarter. Bank of New York Mellon Corp now owns 7,829,276 shares of the company’s stock valued at $422,781,000 after purchasing an additional 1,512,329 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Cardinal Health by 13.2% during the third quarter. American Century Companies Inc. now owns 5,050,968 shares of the company’s stock valued at $272,752,000 after purchasing an additional 589,529 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Cardinal Health by 4.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,302,970 shares of the company’s stock valued at $112,455,000 after purchasing an additional 96,947 shares during the last quarter. Finally, Brandes Investment Partners LP grew its stake in shares of Cardinal Health by 2.9% during the third quarter. Brandes Investment Partners LP now owns 2,025,742 shares of the company’s stock valued at $109,390,000 after purchasing an additional 57,454 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CAH stock opened at $53.91 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 $16.41 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, November 8th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.21. Cardinal Health had a net margin of 0.53% and a return on equity of 23.97%. The firm had revenue of $35.21 billion for the quarter, compared to analysts’ expectations of $33.66 billion. During the same period last year, the firm earned $1.09 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Cardinal Health Inc will post 5 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be paid a $0.4763 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.91 dividend on an annualized basis and a yield of 3.53%. Cardinal Health’s payout ratio is presently 38.20%.

Cardinal Health declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 8th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Several analysts have recently commented on CAH shares. Royal Bank of Canada set a $57.00 price target on shares of Cardinal Health and gave the company a “hold” rating in a research note on Friday, November 9th. Zacks Investment Research cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Morgan Stanley increased their price target on shares of Cardinal Health from $40.00 to $50.00 and gave the company an “underweight” rating in a research note on Monday, December 3rd. Mizuho reissued a “hold” rating and set a $53.00 price target on shares of Cardinal Health in a research note on Sunday, August 12th. Finally, ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Monday, November 12th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $61.36.

In other Cardinal Health news, SVP Stuart G. Laws sold 804 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $55.55, for a total value of $44,662.20. Following the transaction, the senior vice president now directly owns 6,342 shares of the company’s stock, valued at $352,298.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

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About Cardinal Health

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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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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