Public Sector Pension Investment Board Purchases 2,972 Shares of Cardinal Health, Inc. (NYSE:CAH)

Public Sector Pension Investment Board grew its holdings in Cardinal Health, Inc. (NYSE:CAHFree Report) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,352 shares of the company’s stock after acquiring an additional 2,972 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cardinal Health were worth $2,375,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Cornerstone Planning Group LLC acquired a new stake in shares of Cardinal Health in the third quarter valued at approximately $26,000. Covestor Ltd grew its holdings in shares of Cardinal Health by 59.8% during the 2nd quarter. Covestor Ltd now owns 294 shares of the company’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Stonebridge Capital Advisors LLC bought a new position in shares of Cardinal Health in the second quarter worth $29,000. Retirement Group LLC raised its stake in Cardinal Health by 1,539.3% in the fourth quarter. Retirement Group LLC now owns 459 shares of the company’s stock valued at $35,000 after purchasing an additional 431 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in Cardinal Health during the fourth quarter worth about $41,000. 86.01% of the stock is owned by institutional investors.

Cardinal Health Stock Performance

Cardinal Health stock opened at $110.14 on Tuesday. The firm has a market cap of $26.79 billion, a price-to-earnings ratio of 43.36, a PEG ratio of 1.06 and a beta of 0.68. Cardinal Health, Inc. has a 52-week low of $68.53 and a 52-week high of $116.04. The firm has a 50 day moving average price of $107.35 and a two-hundred day moving average price of $100.60.

Cardinal Health (NYSE:CAHGet Free Report) last announced its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. The business had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. Cardinal Health’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 earnings per share. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be paid a dividend of $0.5006 per share. The ex-dividend date is Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.82%. Cardinal Health’s dividend payout ratio is currently 78.74%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company began coverage on shares of Cardinal Health in a report on Thursday, December 14th. They issued an “underweight” rating and a $96.00 target price on the stock. SVB Leerink began coverage on Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price on the stock. Barclays started coverage on Cardinal Health in a report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target for the company. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, TheStreet lowered shares of Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $103.07.

Get Our Latest Stock Analysis on Cardinal Health

Cardinal Health Company 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.

Further Reading

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

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