Pacer Advisors Inc. Acquires 370,181 Shares of Cardinal Health, Inc. (NYSE:CAH)

Pacer Advisors Inc. raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,099,082 shares of the company’s stock after buying an additional 370,181 shares during the quarter. Cardinal Health comprises approximately 0.9% of Pacer Advisors Inc.’s holdings, making the stock its 25th largest position. Pacer Advisors Inc. owned about 1.68% of Cardinal Health worth $403,022,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CAH. J. W. Coons Advisors LLC boosted its position in shares of Cardinal Health by 0.6% during the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after acquiring an additional 100 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC grew its position in shares of Cardinal Health by 5.0% during the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after purchasing an additional 100 shares in the last quarter. Midland Wealth Advisors LLC increased its holdings in shares of Cardinal Health by 4.2% in the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in shares of Cardinal Health by 5.1% in the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after buying an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after buying an additional 100 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH stock opened at $111.81 on Friday. The stock has a 50 day moving average price of $105.26 and a 200 day moving average price of $104.12. Cardinal Health, Inc. has a 52-week low of $85.82 and a 52-week high of $116.05. The firm has a market capitalization of $27.23 billion, a P/E ratio of 49.69, a P/E/G ratio of 1.55 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $1.55 earnings per share. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 89.78%.

Analyst Ratings Changes

A number of analysts have issued reports on CAH shares. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Evercore ISI lifted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. UBS Group upped their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Insider Activity at Cardinal Health

In related news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the sale, the insider now owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,963 shares of company stock worth $12,379,980. Company insiders own 0.15% 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.