The Manufacturers Life Insurance Company Has $24.48 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

The Manufacturers Life Insurance Company cut its position in Cardinal Health, Inc. (NYSE:CAH) by 1.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 221,457 shares of the company’s stock after selling 2,280 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cardinal Health were worth $24,475,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CAH. Point72 Asset Management L.P. bought a new stake in Cardinal Health during the 2nd quarter worth approximately $90,440,000. Pacer Advisors Inc. boosted its stake in Cardinal Health by 9.9% in 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 bought a new stake in shares of Cardinal Health during the third quarter worth $30,820,000. American Century Companies Inc. increased its stake in shares of 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 buying an additional 242,608 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Cardinal Health by 63.2% in the second quarter. Squarepoint Ops LLC now owns 485,238 shares of the company’s stock valued at $47,709,000 after buying an additional 187,955 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Wells Fargo & Company boosted their price objective 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. Argus increased their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft boosted their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, UBS Group raised their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $122.24 on Friday. The firm’s 50 day simple moving average is $114.96 and its 200 day simple moving average is $106.69. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.14. The company has a market capitalization of $29.58 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.53 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same period last year, the business posted $1.73 earnings per share. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently announced 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 1.65%. Cardinal Health’s payout ratio is 39.30%.

Cardinal Health 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.