Cardinal Health, Inc. (CAH) Position Boosted by Pacer Advisors Inc.
Pacer Advisors Inc. boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,580 shares of the company’s stock after buying an additional 209 shares during the period. Pacer Advisors Inc.’s holdings in Cardinal Health were worth $902,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. BlackRock Inc. raised its position in Cardinal Health by 1,041.8% in the first quarter. BlackRock Inc. now owns 21,444,922 shares of the company’s stock worth $1,748,835,000 after buying an additional 19,566,764 shares during the period. FMR LLC increased its stake in Cardinal Health by 47.1% in the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock worth $482,391,000 after buying an additional 1,895,089 shares in the last quarter. Pzena Investment Management LLC bought a new stake in Cardinal Health during the first quarter worth about $86,386,000. Vanguard Group Inc. increased its stake in Cardinal Health by 3.8% in the first quarter. Vanguard Group Inc. now owns 23,201,310 shares of the company’s stock worth $1,892,067,000 after buying an additional 843,212 shares in the last quarter. Finally, Ariel Investments LLC increased its stake in Cardinal Health by 1,944.5% in the first quarter. Ariel Investments LLC now owns 746,789 shares of the company’s stock worth $60,901,000 after buying an additional 710,263 shares in the last quarter. Hedge funds and other institutional investors own 87.66% of the company’s stock.
Cardinal Health, Inc. (CAH) opened at 66.49 on Thursday. The firm’s 50-day moving average is $72.15 and its 200-day moving average is $76.23. The stock has a market cap of $21.04 billion, a P/E ratio of 16.50 and a beta of 0.80. Cardinal Health, Inc. has a 52-week low of $62.70 and a 52-week high of $84.88.
Cardinal Health (NYSE:CAH) last announced its earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The company had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. During the same period in the prior year, the company posted $1.14 EPS. Cardinal Health’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts predict that Cardinal Health, Inc. will post $4.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be given a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, September 29th. Cardinal Health’s dividend payout ratio is currently 45.79%.
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CAH has been the subject of several recent research reports. Jefferies Group LLC initiated coverage on shares of Cardinal Health in a research note on Wednesday, May 17th. They issued a “hold” rating and a $77.00 price target for the company. Vetr downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 price objective for the company. in a research note on Thursday, June 1st. ValuEngine downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Cardinal Health from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Cardinal Health in a research report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $80.46.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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