Pacer Advisors Inc. Sells 4,254,464 Shares of Cardinal Health, Inc. (NYSE:CAH)

Pacer Advisors Inc. lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 99.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,186 shares of the company’s stock after selling 4,254,464 shares during the period. Pacer Advisors Inc.’s holdings in Cardinal Health were worth $4,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Eastern Bank bought a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $25,000. Frazier Financial Advisors LLC increased its stake in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the period. Hara Capital LLC bought a new stake in shares of Cardinal Health during the third quarter worth $31,000. AM Squared Ltd purchased a new stake in shares of Cardinal Health during the third quarter valued at $33,000. Finally, Carolina Wealth Advisors LLC bought a new position in shares of Cardinal Health in the third quarter worth about $47,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.4 %

NYSE:CAH opened at $128.32 on Friday. The firm has a market cap of $31.05 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. The stock has a 50 day moving average of $122.00 and a two-hundred day moving average of $113.85. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. 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 business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Mizuho began coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective for the company. UBS Group increased their price objective on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $132.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Citigroup boosted their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.21.

About Cardinal Health

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.