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

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its holdings 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 worth $25,000 after buying an additional 150 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Cardinal Health by 75.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after buying an additional 75 shares during the period. Vermillion & White Wealth Management Group LLC boosted its position in Cardinal Health by 55.0% during 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. American Capital Advisory LLC grew its stake in Cardinal Health by 5,200.0% in the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after acquiring an additional 208 shares during the period. Finally, NewSquare Capital LLC grew its stake in Cardinal Health by 100.0% in the 2nd quarter. NewSquare Capital LLC now owns 214 shares of the company’s stock worth $36,000 after acquiring an additional 107 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 2.6%

CAH stock opened at $220.72 on Tuesday. The company has a market cap of $51.94 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 1.42 and a beta of 0.64. The stock has a 50-day moving average price of $209.29 and a two-hundred day moving average price of $183.01. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $230.81.

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

Cardinal Health Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is presently 29.35%.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of recent analyst reports. UBS Group set a $260.00 price target on Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. Zacks Research upgraded Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Wells Fargo & Company increased their target price on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. Finally, Evercore ISI upped their price objective on shares of Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.19.

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.