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

Pacer Advisors Inc. boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,290,650 shares of the company’s stock after acquiring an additional 191,568 shares during the quarter. Cardinal Health comprises about 1.0% of Pacer Advisors Inc.’s holdings, making the stock its 20th largest holding. Pacer Advisors Inc.’s holdings in Cardinal Health were worth $474,203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAH. Paragon Capital Management Inc. boosted its stake in shares of Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after buying an additional 99 shares during the last quarter. Midland Wealth Advisors LLC raised its position in shares of Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after acquiring an additional 100 shares in the last quarter. Aptus Capital Advisors LLC raised its position in shares of Cardinal Health by 5.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Cardinal Health by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after acquiring an additional 100 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of Cardinal Health by 0.9% during the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Argus upped their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley upped their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Robert W. Baird upped their price target on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, UBS Group increased their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Stock Performance

NYSE:CAH opened at $120.34 on Thursday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The stock has a market cap of $29.12 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.48 and a beta of 0.60. The business has a fifty day moving average of $113.51 and a 200-day moving average of $105.58.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the prior year, the business posted $1.73 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.68%. Cardinal Health’s dividend payout ratio is currently 39.30%.

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.