Public Sector Pension Investment Board Purchases 12,003 Shares of Cardinal Health, Inc. $CAH

Public Sector Pension Investment Board lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 66.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,007 shares of the company’s stock after purchasing an additional 12,003 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cardinal Health were worth $4,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Cardinal Health during the 2nd quarter valued at $584,420,000. Acadian Asset Management LLC boosted its stake in Cardinal Health by 92.5% during the second quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock worth $282,063,000 after acquiring an additional 807,063 shares in the last quarter. Prudential Financial Inc. grew its holdings in Cardinal Health by 476.8% in the second quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock worth $148,402,000 after purchasing an additional 730,209 shares during the period. Voya Investment Management LLC increased its stake in shares of Cardinal Health by 298.3% during the third quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock valued at $128,978,000 after purchasing an additional 615,398 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in shares of Cardinal Health by 237.6% during the third quarter. AustralianSuper Pty Ltd now owns 680,173 shares of the company’s stock valued at $106,760,000 after purchasing an additional 478,689 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CAH shares. Leerink Partners upped their price target on Cardinal Health from $240.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Robert W. Baird set a $252.00 target price on Cardinal Health in a research note on Friday, February 6th. Zacks Research raised Cardinal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Morgan Stanley set a $255.00 price target on shares of Cardinal Health in a research note on Friday, February 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.20.

Cardinal Health Stock Performance

NYSE CAH opened at $222.59 on Friday. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $230.81. The stock has a 50-day moving average of $210.86 and a 200 day moving average of $184.06. The company has a market capitalization of $52.38 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 1.45 and a beta of 0.64.

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

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is 29.35%.

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.