Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,702 shares of the company’s stock after buying an additional 1,528 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cardinal Health were worth $8,035,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $90,440,000. Jacobs Levy Equity Management Inc. increased its stake in Cardinal Health by 265.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock valued at $73,577,000 after purchasing an additional 477,682 shares during the last quarter. Swedbank AB acquired a new stake in shares of Cardinal Health during the first quarter worth $48,673,000. Zurich Insurance Group Ltd FI lifted its position in shares of Cardinal Health by 153.9% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 698,636 shares of the company’s stock worth $78,177,000 after buying an additional 423,451 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Cardinal Health by 9.9% in the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after buying an additional 370,181 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 1.3 %

Cardinal Health stock opened at $121.84 on Friday. The company’s 50-day moving average price is $113.90 and its two-hundred day moving average price is $105.86. The stock has a market cap of $29.49 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.48 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.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 earnings per share. Research analysts expect that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.66%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CAH shares. Morgan Stanley increased their price objective on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Wells Fargo & Company upped their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, UBS Group boosted their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.