Cardinal Health Inc (CAH) Shares Bought by Assetmark Inc.
Assetmark Inc. grew its position in shares of Cardinal Health Inc (NYSE:CAH) by 138.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,048 shares of the company’s stock after buying an additional 99,786 shares during the period. Assetmark Inc.’s holdings in Cardinal Health were worth $10,541,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in CAH. Steward Partners Investment Advisory LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $102,000. Ffcm LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $105,000. JNBA Financial Advisors raised its position in shares of Cardinal Health by 615.4% during the 4th quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock worth $114,000 after purchasing an additional 1,600 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $129,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Cardinal Health by 127.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,477 shares of the company’s stock worth $152,000 after purchasing an additional 1,388 shares during the period. 89.77% of the stock is currently owned by institutional investors.
In other news, CEO Michael C. Kaufmann sold 18,586 shares of Cardinal Health stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the transaction, the chief executive officer now directly owns 211,849 shares in the company, valued at approximately $15,655,641.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jon L. Giacomin sold 7,995 shares of Cardinal Health stock in a transaction on Tuesday, February 20th. The shares were 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 in the company, valued at $4,336,097.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,113 shares of company stock worth $3,815,073. 0.97% of the stock is owned by insiders.
Shares of Cardinal Health Inc (CAH) opened at $68.94 on Friday. Cardinal Health Inc has a 1 year low of $54.66 and a 1 year high of $84.88. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.57. The company has a market capitalization of $21,700.00, a P/E ratio of 23.61, a P/E/G ratio of 1.56 and a beta of 0.95.
Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.14 by $0.17. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. The firm had revenue of $35.19 billion for the quarter, compared to analysts’ expectations of $34.63 billion. During the same period last year, the firm earned $1.34 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. equities analysts anticipate that Cardinal Health Inc will post 5.42 earnings per share for the current year.
Cardinal Health declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders 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 2.68%. The ex-dividend date is Thursday, March 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 63.36%.
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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