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

Pacer Advisors Inc. grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,290,650 shares of the company’s stock after purchasing an additional 191,568 shares during the period. Cardinal Health makes up about 1.0% of Pacer Advisors Inc.’s holdings, making the stock its 20th largest position. Pacer Advisors Inc. owned about 1.77% of Cardinal Health worth $474,203,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in CAH. Point72 Asset Management L.P. acquired a new position in shares of Cardinal Health during the 2nd quarter worth $90,440,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Cardinal Health by 265.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after buying an additional 477,682 shares during the last quarter. Swedbank AB acquired a new position in shares of Cardinal Health during the 1st quarter worth $48,673,000. Zurich Insurance Group Ltd FI raised its stake in shares of Cardinal Health by 153.9% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 698,636 shares of the company’s stock worth $78,177,000 after buying an additional 423,451 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Cardinal Health by 211.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 508,728 shares of the company’s stock valued at $56,927,000 after purchasing an additional 345,459 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Morgan Stanley boosted their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Robert W. Baird boosted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, Barclays boosted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Stock Performance

Shares of 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 capitalization of $29.12 billion, a P/E ratio of 23.41, a PEG ratio of 1.48 and a beta of 0.60. The stock has a 50-day simple moving average of $113.51 and a 200-day simple moving average of $105.58.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the previous year, the business earned $1.73 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 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.