Traders Purchase Large Volume of Cardinal Health Put Options (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH) saw some unusual options trading activity on Friday. Investors bought 12,055 put options on the stock. This represents an increase of approximately 279% compared to the typical volume of 3,181 put options.

Hedge Funds Weigh In On Cardinal Health

A number of institutional investors have recently added to or reduced their stakes in CAH. Eastern Bank purchased a new position in shares of Cardinal Health during the third quarter worth about $25,000. Frazier Financial Advisors LLC grew its stake in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares in the last quarter. Hara Capital LLC bought a new stake in Cardinal Health in the 3rd quarter worth approximately $31,000. AM Squared Ltd bought a new position in Cardinal Health during the third quarter valued at approximately $33,000. Finally, Kentucky Trust Co purchased a new position in shares of Cardinal Health during the fourth quarter worth approximately $41,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

Shares of Cardinal Health stock traded down $4.71 during trading hours on Friday, reaching $123.56. The company had a trading volume of 6,025,672 shares, compared to its average volume of 2,386,769. The firm has a market cap of $29.90 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. Cardinal Health has a one year low of $93.17 and a one year high of $132.84. The business has a fifty day simple moving average of $122.00 and a 200 day simple moving average of $113.85.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. On average, research analysts forecast that Cardinal Health will post 7.84 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.64%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 39.30%.

Wall Street Analysts Forecast Growth

CAH has been the topic of several recent analyst reports. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Citigroup lifted their target price on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Morgan Stanley increased their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.64.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.