Public Sector Pension Investment Board Boosts Holdings in Cardinal Health, Inc. $CAH

Public Sector Pension Investment Board raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 66.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,007 shares of the company’s stock after buying an additional 12,003 shares during the period. Public Sector Pension Investment Board’s holdings in Cardinal Health were worth $4,710,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CAH. Strategy Asset Managers LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at about $775,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Cardinal Health by 15.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock worth $5,938,000 after acquiring an additional 5,030 shares during the last quarter. Versor Investments LP purchased a new stake in Cardinal Health during the third quarter valued at approximately $2,090,000. Atle Fund Management AB raised its position in Cardinal Health by 13.1% during the third quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock valued at $4,755,000 after purchasing an additional 3,500 shares during the period. Finally, National Pension Service lifted its stake in shares of Cardinal Health by 7.2% in the 3rd quarter. National Pension Service now owns 500,340 shares of the company’s stock valued at $78,533,000 after purchasing an additional 33,673 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Down 1.1%

NYSE:CAH opened at $222.59 on Friday. The company has a market cap of $52.38 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $230.81. The stock has a fifty day simple moving average of $210.86 and a 200-day simple moving average of $184.06.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. During the same quarter last year, the firm posted $1.93 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s payout ratio is currently 29.35%.

Analyst Upgrades and Downgrades

CAH has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $190.00 to $244.00 in a research report on Friday, January 9th. Argus increased their target price on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. TD Cowen lifted their price target on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $244.20.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.