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

Cardinal Health, Inc. (NYSE:CAH - Get Free Report) was the recipient of some unusual options trading on Thursday. Traders bought 7,328 put options on the stock. This is an increase of approximately 55% compared to the average daily volume of 4,730 put options.

Hedge Funds Weigh In On Cardinal Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAH. Cyrus J. Lawrence LLC acquired a new stake in Cardinal Health in the fourth quarter worth $26,000. Frazier Financial Advisors LLC raised its stake in Cardinal Health by 69.8% during 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 during the period. Promus Capital LLC bought a new position in Cardinal Health during the fourth quarter worth about $30,000. Hara Capital LLC acquired a new position in Cardinal Health in the third quarter valued at about $31,000. Finally, Bellwether Advisors LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth about $32,000. Institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of NYSE CAH traded down $0.61 during mid-day trading on Friday, hitting $126.40. The company's stock had a trading volume of 2,615,113 shares, compared to its average volume of 2,428,862. Cardinal Health has a one year low of $93.17 and a one year high of $132.84. The company's fifty day simple moving average is $125.58 and its 200-day simple moving average is $118.82. The stock has a market cap of $30.53 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

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Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, sell-side analysts predict that Cardinal Health will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.60%. Cardinal Health's dividend payout ratio is presently 37.69%.

Analyst Ratings Changes

CAH has been the subject of several research reports. Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price for the company in a research report on Tuesday, January 7th. Bank of America raised shares of Cardinal Health from a "neutral" rating to a "buy" rating and upped their target price for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and raised their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Argus set a $148.00 price objective on Cardinal Health in a research note on Tuesday, February 4th. Finally, TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $139.36.

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.