MML Investors Services LLC Boosts Position in Cardinal Health Inc (CAH)

MML Investors Services LLC increased its stake in shares of Cardinal Health Inc (NYSE:CAH) by 36.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,028 shares of the company’s stock after purchasing an additional 2,653 shares during the quarter. MML Investors Services LLC’s holdings in Cardinal Health were worth $614,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Cardinal Health during the third quarter worth approximately $102,000. Ffcm LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth approximately $105,000. JNBA Financial Advisors boosted its holdings in shares of Cardinal Health by 615.4% during the fourth 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 fourth quarter worth approximately $129,000. Finally, James Hambro & Partners acquired a new stake in shares of Cardinal Health during the fourth quarter worth approximately $138,000. Institutional investors and hedge funds own 90.04% of the company’s stock.

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In other news, insider Patricia Morrison sold 28,532 shares of Cardinal Health stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total value of $1,891,671.60. Following the transaction, the insider now owns 36,157 shares of the company’s stock, valued at $2,397,209.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jon L. Giacomin sold 7,995 shares of Cardinal Health stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $68.78, for a total transaction of $549,896.10. Following the completion of the transaction, the chief executive officer now directly owns 63,043 shares in the company, valued at approximately $4,336,097.54. The disclosure for this sale can be found here. In the last three months, insiders sold 55,113 shares of company stock worth $3,815,073. Insiders own 0.97% of the company’s stock.

Several analysts recently commented on the stock. TheStreet upgraded shares of Cardinal Health from a “c+” rating to a “b-” rating in a report on Tuesday. Barclays assumed coverage on shares of Cardinal Health in a report on Thursday, March 8th. They set an “equal weight” rating and a $74.00 price target for the company. Zacks Investment Research cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Bank of America assumed coverage on shares of Cardinal Health in a report on Tuesday, February 27th. They set an “underperform” rating and a $69.00 price target for the company. Finally, Royal Bank of Canada set a $83.00 price target on shares of Cardinal Health and gave the stock a “hold” rating in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. Cardinal Health currently has an average rating of “Hold” and a consensus price target of $74.78.

Shares of Cardinal Health Inc (NYSE CAH) opened at $70.95 on Friday. 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 stock has a market cap of $22,249.78, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 1.59 and a beta of 0.95. Cardinal Health Inc has a one year low of $54.66 and a one year high of $83.22.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.17. The firm had revenue of $35.19 billion during the quarter, compared to analysts’ expectations of $34.63 billion. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.34 earnings per share. equities research analysts predict that Cardinal Health Inc will post 5.43 EPS for the current fiscal year.

Cardinal Health declared that its board has approved a share buyback plan on Thursday, February 8th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is 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 $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, March 29th. Cardinal Health’s dividend payout ratio is 32.17%.

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

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