WBI Investments Inc. Takes Position in Cardinal Health Inc (CAH)

WBI Investments Inc. purchased a new stake in shares of Cardinal Health Inc (NYSE:CAH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,131 shares of the company’s stock, valued at approximately $2,113,000.

Other hedge funds have also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA purchased a new stake in shares of Cardinal Health during the third quarter valued at about $108,000. NEXT Financial Group Inc purchased a new stake in shares of Cardinal Health during the third quarter valued at about $111,000. First Hawaiian Bank purchased a new stake in shares of Cardinal Health during the third quarter valued at about $125,000. Sentry Investment Management LLC purchased a new stake in shares of Cardinal Health during the second quarter valued at about $132,000. Finally, CX Institutional purchased a new position in shares of Cardinal Health in the 2nd quarter valued at approximately $187,000. 90.59% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Jon L. Giacomin sold 2,890 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $51.95, for a total value of $150,135.50. Following the transaction, the chief executive officer now owns 72,652 shares in the company, valued at approximately $3,774,271.40. The sale was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Shares of Cardinal Health stock opened at $51.44 on Friday. The company has a market capitalization of $15.17 billion, a P/E ratio of 10.29, a P/E/G ratio of 1.60 and a beta of 0.94. The company has a quick ratio of 0.53, a current ratio of 1.07 and a debt-to-equity ratio of 1.32. Cardinal Health Inc has a 52 week low of $48.14 and a 52 week high of $75.75.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Monday, August 6th. The company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. Cardinal Health had a net margin of 0.19% and a return on equity of 22.59%. The company had revenue of $35.35 billion for the quarter, compared to the consensus estimate of $34.38 billion. During the same quarter in the prior year, the company earned $1.31 EPS. Cardinal Health’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts expect that Cardinal Health Inc will post 5.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were issued a $0.4763 dividend. This represents a $1.91 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Friday, September 28th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio is 38.20%.

Several brokerages recently commented on CAH. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Royal Bank of Canada set a $60.00 price objective on shares of Cardinal Health and gave the company a “hold” rating in a research report on Friday, September 21st. Mizuho reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Cardinal Health in a research report on Sunday, August 12th. Robert W. Baird decreased their price objective on shares of Cardinal Health from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, August 7th. Finally, Argus decreased their price objective on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, July 16th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $61.33.

Cardinal Health Company 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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