Pittenger & Anderson Inc. Purchases 2,515 Shares of Cardinal Health, Inc. $CAH

Pittenger & Anderson Inc. boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 718.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,865 shares of the company’s stock after buying an additional 2,515 shares during the period. Pittenger & Anderson Inc.’s holdings in Cardinal Health were worth $450,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in Cardinal Health by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock valued at $1,069,005,000 after buying an additional 205,539 shares during the last quarter. Norges Bank bought a new position in Cardinal Health during the second quarter valued at about $584,420,000. Invesco Ltd. grew its position in shares of Cardinal Health by 7.3% during the 2nd quarter. Invesco Ltd. now owns 3,037,782 shares of the company’s stock valued at $510,347,000 after acquiring an additional 207,750 shares during the period. Legal & General Group Plc grew its holdings in Cardinal Health by 2.0% during the second quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock valued at $394,761,000 after purchasing an additional 45,812 shares during the period. Finally, Marshall Wace LLP increased its position in Cardinal Health by 19.1% in the second quarter. Marshall Wace LLP now owns 1,930,967 shares of the company’s stock worth $324,402,000 after buying an additional 309,335 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Leerink Partners set a $240.00 price objective on shares of Cardinal Health in a research note on Tuesday, January 13th. Citigroup upgraded Cardinal Health from a “neutral” rating to a “buy” rating and upped their target price for the stock from $190.00 to $244.00 in a research note on Friday, January 9th. Morgan Stanley boosted their price objective on Cardinal Health from $224.00 to $245.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen reiterated a “buy” rating on shares of Cardinal Health in a research report on Tuesday. Finally, Jefferies Financial Group upped their price objective on Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $224.73.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $214.85 on Friday. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $216.51. The company’s 50-day moving average is $206.24 and its 200 day moving average is $177.90. The stock has a market capitalization of $51.05 billion, a P/E ratio of 32.41, a P/E/G ratio of 1.44 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. The firm had revenue of $64.01 billion for the quarter, compared to the consensus estimate of $59.41 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 EPS. Research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.5107 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.0%. Cardinal Health’s dividend payout ratio is presently 30.77%.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.