Two Sigma Advisers LP Increases Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Two Sigma Advisers LP grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 47.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,069,462 shares of the company’s stock after purchasing an additional 346,362 shares during the period. Two Sigma Advisers LP owned approximately 0.44% of Cardinal Health worth $118,197,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after buying an additional 627,253 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Cardinal Health by 4.7% in the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after purchasing an additional 191,568 shares in the last quarter. ProShare Advisors LLC increased its position in Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after purchasing an additional 85,247 shares during the last quarter. Renaissance Technologies LLC lifted its position in Cardinal Health by 7.1% during the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after purchasing an additional 111,137 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Cardinal Health by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock worth $158,390,000 after buying an additional 242,608 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CAH shares. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft boosted 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. JPMorgan Chase & Co. raised their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI boosted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. Finally, Robert W. Baird lifted their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $124.58.

Cardinal Health Stock Performance

NYSE:CAH opened at $122.84 on Friday. The stock has a market capitalization of $29.73 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.54 and a beta of 0.61. The company’s 50-day simple moving average is $116.03 and its 200-day simple moving average is $107.39. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.23.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the prior year, the business posted $1.73 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The business 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 $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

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.