Cerity Partners LLC Increases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Cerity Partners LLC grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 35.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,964 shares of the company’s stock after purchasing an additional 8,707 shares during the quarter. Cerity Partners LLC’s holdings in Cardinal Health were worth $3,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new position in Cardinal Health in the 2nd quarter worth approximately $90,440,000. Pacer Advisors Inc. lifted its position in shares of Cardinal Health by 9.9% during the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after purchasing an additional 370,181 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Cardinal Health in the third quarter valued at $30,820,000. American Century Companies Inc. grew its holdings in 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 purchasing an additional 242,608 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in Cardinal Health by 63.2% during the 2nd quarter. Squarepoint Ops LLC now owns 485,238 shares of the company’s stock worth $47,709,000 after buying an additional 187,955 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $122.24 on Friday. The stock has a market capitalization of $29.58 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.53 and a beta of 0.60. The business’s fifty day moving average is $114.75 and its two-hundred day moving average is $106.52. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 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 the consensus estimate 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 revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 earnings per share. On average, research analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.65%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of analyst reports. Wells Fargo & Company upped their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Morgan Stanley increased their price objective on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Barclays raised their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Mizuho increased their price target on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $123.00.

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.