Pacer Advisors Inc. Purchases 635,602 Shares of Cardinal Health, Inc. (NYSE:CAH)

Pacer Advisors Inc. boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 26.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,027,179 shares of the company’s stock after purchasing an additional 635,602 shares during the period. Cardinal Health comprises about 1.2% of Pacer Advisors Inc.’s investment portfolio, making the stock its 12th biggest position. Pacer Advisors Inc. owned 1.19% of Cardinal Health worth $286,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Delta Asset Management LLC TN acquired a new position in Cardinal Health during the 4th quarter worth $25,000. Gradient Investments LLC boosted its position in Cardinal Health by 106.7% in the 2nd quarter. Gradient Investments LLC now owns 277 shares of the company’s stock valued at $26,000 after buying an additional 143 shares during the last quarter. Benjamin Edwards Inc. bought a new position in Cardinal Health in the 1st quarter valued at $27,000. Retirement Group LLC lifted its position in Cardinal Health by 1,539.3% during the 4th quarter. Retirement Group LLC now owns 459 shares of the company’s stock valued at $35,000 after purchasing an additional 431 shares during the period. Finally, GPS Wealth Strategies Group LLC acquired a new position in Cardinal Health during the 1st quarter valued at about $38,000. 86.01% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Price Performance

NYSE:CAH traded up $0.33 during trading hours on Tuesday, reaching $88.50. 280,315 shares of the stock were exchanged, compared to its average volume of 2,354,325. The stock has a market cap of $22.19 billion, a PE ratio of 89.06, a PEG ratio of 0.92 and a beta of 0.79. Cardinal Health, Inc. has a twelve month low of $64.99 and a twelve month high of $95.45. The firm has a 50 day moving average of $90.31 and a 200 day moving average of $85.09.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Tuesday, August 15th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.06. The firm had revenue of $53.45 billion for the quarter, compared to analyst estimates of $52.72 billion. Cardinal Health had a net margin of 0.13% and a negative return on equity of 67.01%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. Equities research analysts anticipate that Cardinal Health, Inc. will post 6.65 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Tuesday, October 3rd will be issued a dividend of $0.5006 per share. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $2.00 annualized dividend and a yield of 2.26%. Cardinal Health’s payout ratio is presently 202.02%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CAH. TD Cowen upped their target price on shares of Cardinal Health from $88.00 to $90.00 and gave the company a “market perform” rating in a research report on Wednesday, August 16th. TheStreet lowered Cardinal Health from a “b-” rating to a “c” rating in a research report on Tuesday, August 15th. Bank of America boosted their target price on Cardinal Health from $91.00 to $99.00 in a research report on Monday, July 17th. JPMorgan Chase & Co. boosted their target price on Cardinal Health from $93.00 to $101.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 16th. Finally, Barclays lifted their price target on shares of Cardinal Health from $80.00 to $85.00 in a research report on Friday, June 9th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.69.

Insider Buying and Selling

In related news, CEO Deborah Weitzman sold 6,712 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $89.81, for a total transaction of $602,804.72. Following the transaction, the chief executive officer now directly owns 44,202 shares in the company, valued at $3,969,781.62. The sale was disclosed in a filing with the SEC, which is available through this link. In other Cardinal Health news, insider Jessica L. Mayer sold 30,145 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $90.84, for a total transaction of $2,738,371.80. Following the completion of the sale, the insider now owns 95,533 shares of the company’s stock, valued at approximately $8,678,217.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Deborah Weitzman sold 6,712 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $89.81, for a total transaction of $602,804.72. Following the completion of the transaction, the chief executive officer now directly owns 44,202 shares in the company, valued at $3,969,781.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,052 shares of company stock worth $8,401,034. Corporate insiders own 0.17% of the company’s stock.

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.