Healthcare of Ontario Pension Plan Trust Fund Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,300 shares of the company’s stock, valued at approximately $1,691,000.

Several other hedge funds have also made changes to their positions 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. ProShare Advisors LLC raised its stake in shares of Cardinal Health by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after buying an additional 85,247 shares in the last quarter. Renaissance Technologies LLC lifted its holdings 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 worth $165,517,000 after acquiring an additional 111,137 shares during the period. American Century Companies Inc. boosted its position in shares of Cardinal Health by 17.7% during the 2nd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Cardinal Health by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after acquiring an additional 33,388 shares during the period. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Argus lifted their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. 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. Finally, Evercore ISI raised their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Trading Down 0.3 %

CAH stock opened at $122.24 on Monday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14. The firm has a market cap of $29.58 billion, a PE ratio of 23.78, a P/E/G ratio of 1.53 and a beta of 0.60. The business’s 50-day moving average price is $114.96 and its two-hundred day moving average price is $106.75.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Cardinal Health’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.65%. Cardinal Health’s dividend payout ratio is currently 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.