Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Stake in Cardinal Health, Inc. (NYSE:CAH)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Cardinal Health, Inc. (NYSE:CAHFree Report) by 15.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,192 shares of the company’s stock after purchasing an additional 6,789 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Cardinal Health were worth $4,444,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CAH. Panagora Asset Management Inc. increased its stake in Cardinal Health by 53.6% in the 1st quarter. Panagora Asset Management Inc. now owns 25,616 shares of the company’s stock worth $1,452,000 after purchasing an additional 8,935 shares during the period. Cibc World Market Inc. purchased a new position in Cardinal Health in the 1st quarter worth approximately $212,000. Blair William & Co. IL increased its stake in shares of Cardinal Health by 6.7% during the first quarter. Blair William & Co. IL now owns 11,769 shares of the company’s stock valued at $667,000 after buying an additional 734 shares during the period. Sei Investments Co. increased its stake in shares of Cardinal Health by 6.4% during the first quarter. Sei Investments Co. now owns 472,799 shares of the company’s stock valued at $26,792,000 after buying an additional 28,568 shares during the period. Finally, Aviva PLC increased its stake in shares of Cardinal Health by 30.0% during the first quarter. Aviva PLC now owns 112,677 shares of the company’s stock valued at $6,389,000 after buying an additional 26,010 shares during the period. 86.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company assumed coverage on Cardinal Health in a research note on Thursday, December 14th. They set an “underweight” rating and a $96.00 target price on the stock. UBS Group boosted their target price on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Barclays assumed coverage on Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price target on the stock. Finally, TheStreet cut Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $101.38.

View Our Latest Stock Analysis on Cardinal Health

Insider Activity

In related news, CEO Deborah Weitzman sold 36,642 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $106.31, for a total transaction of $3,895,411.02. Following the completion of the sale, the chief executive officer now owns 35,202 shares in the company, valued at $3,742,324.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Cardinal Health Trading Up 2.2 %

Cardinal Health stock opened at $104.95 on Monday. The business’s fifty day simple moving average is $104.38 and its two-hundred day simple moving average is $97.19. Cardinal Health, Inc. has a 12 month low of $68.53 and a 12 month high of $111.40. The company has a market capitalization of $25.53 billion, a price-to-earnings ratio of 41.32, a price-to-earnings-growth ratio of 0.94 and a beta of 0.69.

Cardinal Health (NYSE:CAHGet Free Report) last released its earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.56 by $0.26. The business had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 earnings per share. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.29 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, March 28th. Cardinal Health’s payout ratio is currently 78.74%.

Cardinal Health Profile

(Free Report)

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.

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

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