Jacobs Levy Equity Management Inc. Has $49.48 Million Position in Cardinal Health, Inc. (NYSE:CAH)

Jacobs Levy Equity Management Inc. lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 18.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 447,692 shares of the company’s stock after acquiring an additional 70,296 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.18% of Cardinal Health worth $49,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CAH. Charles Schwab Investment Management Inc. raised its stake in shares of Cardinal Health by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares in the last quarter. Alpha Cubed Investments LLC acquired a new stake in Cardinal Health in the third quarter valued at approximately $371,000. Murphy Pohlad Asset Management LLC acquired a new stake in Cardinal Health in the second quarter valued at approximately $1,208,000. Cerity Partners LLC increased its stake in shares of Cardinal Health by 35.9% during the 3rd quarter. Cerity Partners LLC now owns 32,964 shares of the company’s stock worth $3,643,000 after purchasing an additional 8,707 shares during the last quarter. Finally, Fiera Capital Corp bought a new position in shares of Cardinal Health during the 3rd quarter valued at $507,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 0.6 %

Shares of NYSE CAH opened at $123.24 on Wednesday. The firm has a market capitalization of $29.83 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.53 and a beta of 0.61. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The business has a fifty day simple moving average of $115.17 and a 200 day simple moving average of $106.99.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. 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 company posted $1.73 EPS. The business’s revenue was down 4.3% on a year-over-year basis. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Analysts Set New Price Targets

CAH has been the subject of a number of recent research reports. Barclays upped their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Morgan Stanley lifted their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Mizuho upped their price objective on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a report 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 stock an “underweight” rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

About Cardinal Health

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.