Public Sector Pension Investment Board Increases Position in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Cardinal Health, Inc. by 2.1%, owning approximately 0.05% of the company, valued at $16.5 million.
• Analysts have set a consensus price target of $158.07 for Cardinal Health, with twelve analysts rating it as a buy and three giving it a hold rating.
• Cardinal Health's stock currently has a market cap of $37.73 billion and a price-to-earnings ratio of 24.66, indicating its position in the health services market.

Public Sector Pension Investment Board grew its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,017 shares of the company's stock after acquiring an additional 2,484 shares during the period. Public Sector Pension Investment Board owned about 0.05% of Cardinal Health worth $16,535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Cardinal Health in the first quarter worth $210,000. SouthState Corp grew its stake in shares of Cardinal Health by 11.7% in the first quarter. SouthState Corp now owns 953 shares of the company's stock worth $131,000 after acquiring an additional 100 shares in the last quarter. CCM Investment Group LLC acquired a new position in shares of Cardinal Health in the first quarter worth $2,900,000. Nuveen LLC acquired a new position in shares of Cardinal Health in the first quarter worth $106,065,000. Finally, Aigen Investment Management LP grew its stake in shares of Cardinal Health by 13.0% in the first quarter. Aigen Investment Management LP now owns 27,360 shares of the company's stock worth $3,769,000 after acquiring an additional 3,156 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. UBS Group restated a "buy" rating on shares of Cardinal Health in a research note on Tuesday. Wall Street Zen downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a research note on Tuesday. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of "Moderate Buy" and a consensus price target of $158.07.

Cardinal Health Price Performance

Shares of CAH opened at $158.07 on Tuesday. Cardinal Health, Inc. has a 1-year low of $100.07 and a 1-year high of $168.44. The stock has a market cap of $37.73 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 1.56 and a beta of 0.67. The firm has a fifty day moving average price of $160.10 and a 200 day moving average price of $144.16.

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.

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