Charles Schwab Investment Management Inc. Buys 33,388 Shares of Cardinal Health, Inc. (NYSE:CAH)

Charles Schwab Investment Management Inc. boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,474,625 shares of the company’s stock after acquiring an additional 33,388 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.61% of Cardinal Health worth $162,976,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CAH. Pacer Advisors Inc. raised its stake in shares of Cardinal Health by 4.7% in the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after purchasing an additional 191,568 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Cardinal Health by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock valued at $305,584,000 after buying an additional 14,030 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Cardinal Health by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after acquiring an additional 85,247 shares during the period. Renaissance Technologies LLC boosted its position in shares of Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after acquiring an additional 111,137 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Cardinal Health by 17.7% in the second quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock valued at $158,390,000 after acquiring an additional 242,608 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the topic of a number of recent research reports. Evercore ISI lifted their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Argus boosted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Morgan Stanley boosted their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Performance

Shares of CAH opened at $121.84 on Monday. The firm has a market capitalization of $29.49 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.54 and a beta of 0.60. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14. The business’s fifty day moving average price is $113.90 and its two-hundred day moving average price is $105.96.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same period last year, the company earned $1.73 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.66%. Cardinal Health’s payout ratio is presently 39.30%.

Cardinal Health Company Profile

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.