Swiss National Bank Reduces Stake in Cardinal Health, Inc. (NYSE:CAH)

Swiss National Bank lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 12.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 819,000 shares of the company’s stock after selling 111,500 shares during the quarter. Swiss National Bank owned about 0.33% of Cardinal Health worth $71,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in Cardinal Health by 59.8% during the 2nd quarter. Covestor Ltd now owns 294 shares of the company’s stock worth $28,000 after buying an additional 110 shares during the last quarter. Stonebridge Capital Advisors LLC purchased a new position in shares of Cardinal Health in the 2nd quarter valued at approximately $29,000. Retirement Group LLC raised its position in shares of Cardinal Health by 1,539.3% in the 4th quarter. Retirement Group LLC now owns 459 shares of the company’s stock valued at $35,000 after purchasing an additional 431 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Cardinal Health in the 4th quarter worth approximately $41,000. Finally, Parkside Financial Bank & Trust grew its position in Cardinal Health by 300.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 957 shares of the company’s stock worth $54,000 after purchasing an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 86.01% of the company’s stock.

Insider Transactions at Cardinal Health

In related news, CEO Deborah Weitzman sold 36,642 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $106.31, for a total value of $3,895,411.02. Following the transaction, the chief executive officer now directly owns 35,202 shares of the company’s stock, valued at approximately $3,742,324.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

Cardinal Health Trading Up 0.4 %

NYSE CAH opened at $104.07 on Wednesday. The stock has a market capitalization of $25.31 billion, a price-to-earnings ratio of 40.97, a PEG ratio of 0.93 and a beta of 0.69. The stock has a 50-day moving average of $104.51 and a 200 day moving average of $96.95. Cardinal Health, Inc. has a twelve month low of $68.53 and a twelve month high of $111.40.

Cardinal Health (NYSE:CAHGet Free Report) last announced its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. During the same period in the prior year, the company posted $1.32 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts predict that Cardinal Health, Inc. will post 7.3 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be given a $0.5006 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.92%. Cardinal Health’s dividend payout ratio (DPR) is 78.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $101.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, November 17th. Wells Fargo & Company assumed coverage on Cardinal Health in a research report on Thursday, December 14th. They issued an “underweight” rating and a $96.00 target price on the stock. Barclays began coverage on shares of Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective on the stock. TheStreet cut shares of Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Finally, Evercore ISI lowered their price target on shares of Cardinal Health from $100.00 to $95.00 in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cardinal Health has an average rating of “Hold” and a consensus price target of $101.38.

Check Out Our Latest Analysis on Cardinal Health

Cardinal Health Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.