Pacer Advisors Inc. Purchases 200,021 Shares of Cardinal Health, Inc. $CAH

Pacer Advisors Inc. increased its position in Cardinal Health, Inc. (NYSE:CAH) by 14.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,565,131 shares of the company’s stock after acquiring an additional 200,021 shares during the period. Pacer Advisors Inc.’s holdings in Cardinal Health were worth $330,728,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Farmers National Bank acquired a new position in shares of Cardinal Health during the 1st quarter worth $233,000. DV Trading LLC raised its holdings in shares of Cardinal Health by 162.0% during the 1st quarter. DV Trading LLC now owns 1,048 shares of the company’s stock valued at $221,000 after purchasing an additional 648 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Cardinal Health by 9.0% in the 1st quarter. Parallel Advisors LLC now owns 2,968 shares of the company’s stock valued at $627,000 after purchasing an additional 244 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Cardinal Health by 52.9% in the first quarter. NewEdge Advisors LLC now owns 33,939 shares of the company’s stock worth $7,172,000 after purchasing an additional 11,740 shares in the last quarter. Finally, First Nebraska Trust Co bought a new stake in Cardinal Health in the first quarter worth $17,973,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of CAH opened at $230.18 on Monday. The company has a market capitalization of $53.91 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $243.21. The company’s fifty day moving average price is $222.95 and its 200 day moving average price is $215.39.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.38. The company had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $2.35 earnings per share. Analysts anticipate that Cardinal Health, Inc. will post 10.77 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 31.50%.

Analysts Set New Price Targets

CAH has been the topic of several analyst reports. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. JPMorgan Chase & Co. decreased their price target on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Bank of America increased their price objective on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. TD Cowen raised their price objective on Cardinal Health from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Finally, Zacks Research lowered Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $251.73.

Cardinal Health Company 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.