Pittenger & Anderson Inc. Has $450,000 Holdings in Cardinal Health, Inc. $CAH

Pittenger & Anderson Inc. boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 718.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,865 shares of the company’s stock after purchasing an additional 2,515 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Cardinal Health were worth $450,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Cardinal Health by 3.3% in the second 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 in the last quarter. Norges Bank bought a new position in Cardinal Health during the 2nd quarter worth $584,420,000. Invesco Ltd. raised its holdings in Cardinal Health by 7.3% in 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 in the last quarter. Legal & General Group Plc grew its holdings in shares of Cardinal Health by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock worth $394,761,000 after purchasing an additional 45,812 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of 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 purchasing an additional 309,335 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CAH shares. Jefferies Financial Group increased their price objective on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Evercore ISI lifted their price objective on shares of Cardinal Health from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Leerink Partners set a $240.00 target price on Cardinal Health in a report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $224.73.

Cardinal Health Stock Up 1.7%

Shares of CAH opened at $214.85 on Friday. The stock has a market cap of $51.05 billion, a PE ratio of 32.41, a PEG ratio of 1.44 and a beta of 0.65. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $216.51. The business has a 50-day simple moving average of $206.24 and a two-hundred day simple moving average of $177.90.

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

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd were given a $0.5107 dividend. 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 payout ratio is 30.77%.

Cardinal Health 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.