Strategic Wealth Partners Ltd. decreased its position in shares of Cardinal Health Inc (NYSE:CAH) by 23.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 766 shares of the company’s stock after selling 235 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Cardinal Health were worth $41,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. increased its stake in Cardinal Health by 11.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 9,312 shares of the company’s stock worth $503,000 after buying an additional 980 shares during the period. Redwood Investment Management LLC increased its stake in Cardinal Health by 23.6% during the 3rd quarter. Redwood Investment Management LLC now owns 5,439 shares of the company’s stock worth $294,000 after buying an additional 1,038 shares during the period. Brown Advisory Inc. increased its stake in Cardinal Health by 0.9% during the 3rd quarter. Brown Advisory Inc. now owns 112,968 shares of the company’s stock worth $6,100,000 after buying an additional 1,046 shares during the period. World Asset Management Inc increased its stake in Cardinal Health by 4.2% during the 3rd quarter. World Asset Management Inc now owns 26,721 shares of the company’s stock worth $1,443,000 after buying an additional 1,078 shares during the period. Finally, Sigma Planning Corp increased its stake in Cardinal Health by 17.0% during the 2nd quarter. Sigma Planning Corp now owns 8,650 shares of the company’s stock worth $422,000 after buying an additional 1,256 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of CAH stock opened at $53.91 on Friday. The firm has a market cap of $16.33 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 1.75 and a beta of 0.92. The company has a quick ratio of 0.52, a current ratio of 1.06 and a debt-to-equity ratio of 1.35. Cardinal Health Inc has a 1-year low of $48.14 and a 1-year high of $75.75.

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

Cardinal Health declared that its board has approved a stock buyback plan on Thursday, November 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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

CAH has been the subject of several recent analyst reports. Mizuho reissued a “hold” rating and set a $53.00 price objective on shares of Cardinal Health in a report on Sunday, August 12th. Royal Bank of Canada set a $60.00 price objective on shares of Cardinal Health and gave the stock a “hold” rating in a report on Friday, September 21st. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Monday, November 12th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $61.00 price objective on shares of Cardinal Health in a report on Wednesday, November 14th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $61.36.

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

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