Canada Pension Plan Investment Board Has $14.35 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Canada Pension Plan Investment Board lessened its position in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 25.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,222 shares of the company’s stock after selling 57,000 shares during the period. Canada Pension Plan Investment Board owned 0.07% of Cardinal Health worth $14,345,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Cardinal Health in the 4th quarter valued at $220,230,000. Moneta Group Investment Advisors LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at about $215,893,000. Acadian Asset Management LLC boosted its position in shares of Cardinal Health by 75.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,548,693 shares of the company’s stock worth $335,559,000 after purchasing an additional 1,525,324 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Cardinal Health by 1,232.2% in the 2nd quarter. Marshall Wace LLP now owns 1,365,374 shares of the company’s stock valued at $129,123,000 after buying an additional 1,262,881 shares during the period. Finally, Nomura Holdings Inc. raised its stake in Cardinal Health by 677.5% during the 1st quarter. Nomura Holdings Inc. now owns 1,350,804 shares of the company’s stock worth $101,986,000 after buying an additional 1,177,066 shares during the period. Institutional investors own 86.01% of the company’s stock.

Insider Activity

In related news, CEO Deborah Weitzman sold 36,642 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $106.31, for a total value of $3,895,411.02. Following the completion of the transaction, the chief executive officer now directly owns 35,202 shares of the company’s stock, valued at approximately $3,742,324.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CAH. TheStreet downgraded Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Wells Fargo & Company started coverage on shares of Cardinal Health in a research note on Thursday, December 14th. They issued an “underweight” rating and a $96.00 price objective on the stock. Barclays began coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $101.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, November 17th. Finally, UBS Group boosted their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.38.

View Our Latest Analysis on CAH

Cardinal Health Stock Up 2.2 %

Shares of CAH stock opened at $104.95 on Monday. Cardinal Health, Inc. has a 12-month low of $68.53 and a 12-month high of $111.40. The company has a 50 day moving average of $104.38 and a 200-day moving average of $97.19. The firm has a market cap of $25.53 billion, a P/E ratio of 41.32, a PEG ratio of 0.94 and a beta of 0.69.

Cardinal Health (NYSE:CAHGet Free Report) last issued its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. The firm had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 earnings per share. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.29 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be paid a $0.5006 dividend. The ex-dividend date is Thursday, March 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.91%. Cardinal Health’s payout ratio is 78.74%.

About Cardinal Health

(Free Report)

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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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