Meitav Dash Investments Ltd. purchased a new position in Cardinal Health Inc (NYSE:CAH) in the fourth quarter, HoldingsChannel reports. The fund purchased 6,000 shares of the company’s stock, valued at approximately $373,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAH. American International Group Inc. raised its holdings in Cardinal Health by 5,859.3% in the 4th quarter. American International Group Inc. now owns 7,969,384 shares of the company’s stock worth $488,284,000 after purchasing an additional 7,835,654 shares during the period. BlackRock Inc. raised its holdings in shares of Cardinal Health by 15.0% during the fourth quarter. BlackRock Inc. now owns 24,845,043 shares of the company’s stock valued at $1,522,257,000 after acquiring an additional 3,235,076 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Cardinal Health during the fourth quarter valued at approximately $111,944,000. Ameriprise Financial Inc. raised its holdings in shares of Cardinal Health by 38.6% during the third quarter. Ameriprise Financial Inc. now owns 4,930,457 shares of the company’s stock valued at $329,964,000 after acquiring an additional 1,373,334 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Cardinal Health by 31.3% during the fourth quarter. Bank of New York Mellon Corp now owns 5,049,224 shares of the company’s stock valued at $309,366,000 after acquiring an additional 1,203,015 shares during the last quarter. 89.98% of the stock is owned by institutional investors.

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In related news, CEO Michael C. Kaufmann sold 18,586 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was 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 in the company, valued at $15,655,641.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jon L. Giacomin sold 7,995 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.78, for a total value of $549,896.10. Following the transaction, the chief executive officer now owns 63,043 shares of the company’s stock, valued at $4,336,097.54. The disclosure for this sale can be found here. Insiders sold 55,113 shares of company stock valued at $3,815,073 over the last quarter. 0.97% of the stock is currently owned by company insiders.

A number of brokerages have commented on CAH. TheStreet raised Cardinal Health from a “c+” rating to a “b-” rating in a report on Tuesday, March 13th. Barclays began coverage on Cardinal Health in a report on Thursday, March 8th. They set an “equal weight” rating and a $74.00 target price for the company. Zacks Investment Research cut Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. ValuEngine cut Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Robert W. Baird reissued a “hold” rating and set a $80.00 target price on shares of Cardinal Health in a report on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Cardinal Health currently has an average rating of “Hold” and an average target price of $74.78.

Cardinal Health Inc (CAH) opened at $63.86 on Friday. The firm has a market capitalization of $20,673.10, a P/E ratio of 12.54, a P/E/G ratio of 1.48 and a beta of 0.95. Cardinal Health Inc has a 52-week low of $54.66 and a 52-week high of $82.80. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.57.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.17. The company had revenue of $35.19 billion during the quarter, compared to analyst estimates of $34.63 billion. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 earnings per share. analysts anticipate that Cardinal Health Inc will post 5.42 EPS for the current fiscal year.

Cardinal Health declared that its board has approved a stock repurchase program 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. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, April 2nd will be given a $0.4624 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.85 annualized dividend and a yield of 2.90%. Cardinal Health’s payout ratio is 32.17%.

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Cardinal Health Company Profile

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

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