Cardinal Health, Inc. $CAH Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,645 shares of the company’s stock after buying an additional 3,201 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cardinal Health were worth $12,658,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CAH. SJS Investment Consulting Inc. grew its stake in shares of Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Cardinal Health by 75.0% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after acquiring an additional 75 shares during the last quarter. American Capital Advisory LLC raised its holdings in shares of Cardinal Health by 5,200.0% during the third quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after purchasing an additional 208 shares during the period. Finally, Vermillion & White Wealth Management Group LLC lifted its holdings in Cardinal Health by 55.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 71 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Up 2.6%

Shares of NYSE CAH opened at $220.72 on Tuesday. The stock’s fifty day simple moving average is $209.29 and its 200 day simple moving average is $183.01. The stock has a market capitalization of $51.94 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.42 and a beta of 0.64. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $230.81.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.Cardinal Health’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the company posted $1.93 EPS. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a $0.5107 dividend. 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 dividend payout ratio (DPR) is 29.35%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Argus lifted their price objective on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Leerink Partners upped their price target on shares of Cardinal Health from $240.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a research note on Tuesday, November 18th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, Mizuho lifted their price target on Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $245.19.

Cardinal Health Profile

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.