Pacer Advisors Inc. Raises Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Pacer Advisors Inc. raised its stake in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,619,561 shares of the company’s stock after buying an additional 389,431 shares during the period. Pacer Advisors Inc. owned about 1.06% of Cardinal Health worth $264,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAH. Covestor Ltd boosted its position in Cardinal Health by 59.8% in the second quarter. Covestor Ltd now owns 294 shares of the company’s stock worth $28,000 after purchasing an additional 110 shares during the last quarter. Cornerstone Planning Group LLC purchased a new stake in Cardinal Health during the third quarter valued at approximately $26,000. BKM Wealth Management LLC bought a new position in Cardinal Health in the fourth quarter worth approximately $30,000. Stonebridge Capital Advisors LLC bought a new stake in shares of Cardinal Health during the 2nd quarter valued at $29,000. Finally, Retirement Group LLC grew its position in shares of Cardinal Health by 1,539.3% during the 4th quarter. Retirement Group LLC now owns 459 shares of the company’s stock valued at $35,000 after acquiring an additional 431 shares during the period. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on Cardinal Health

Cardinal Health Stock Up 0.1 %

Shares of Cardinal Health stock opened at $111.07 on Tuesday. Cardinal Health, Inc. has a 52 week low of $70.57 and a 52 week high of $116.04. The company has a market capitalization of $27.02 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 1.07 and a beta of 0.68. The stock’s fifty day moving average is $108.14 and its two-hundred day moving average is $101.62.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly 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 company had revenue of $57.45 billion for 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%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 EPS. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.29 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be given a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

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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