Swiss National Bank Sells 48,700 Shares of Cardinal Health, Inc. (NYSE:CAH)

Swiss National Bank lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 770,300 shares of the company’s stock after selling 48,700 shares during the period. Swiss National Bank owned approximately 0.32% of Cardinal Health worth $77,646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Fisher Asset Management LLC grew its position in Cardinal Health by 40.1% in the 4th quarter. Fisher Asset Management LLC now owns 4,218 shares of the company’s stock worth $425,000 after purchasing an additional 1,208 shares during the period. First Trust Direct Indexing L.P. grew its position in Cardinal Health by 9.1% in the 4th quarter. First Trust Direct Indexing L.P. now owns 10,898 shares of the company’s stock worth $1,099,000 after purchasing an additional 908 shares during the period. Hexagon Capital Partners LLC grew its position in Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Certuity LLC bought a new stake in Cardinal Health in the 4th quarter worth approximately $228,000. Finally, Islay Capital Management LLC boosted its stake in shares of Cardinal Health by 1,081.5% during the 4th quarter. Islay Capital Management LLC now owns 10,929 shares of the company’s stock worth $1,102,000 after acquiring an additional 10,004 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 4.0 %

Shares of NYSE:CAH opened at $98.91 on Friday. The company has a market capitalization of $24.06 billion, a price-to-earnings ratio of 43.96, a PEG ratio of 0.99 and a beta of 0.71. Cardinal Health, Inc. has a 12 month low of $77.56 and a 12 month high of $116.04. The firm’s 50-day moving average is $109.10 and its 200 day moving average is $105.09.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.74 EPS. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.34 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.02%. Cardinal Health’s dividend payout ratio (DPR) is presently 88.89%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CAH. SVB Leerink began coverage on shares of Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 price target on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Finally, Robert W. Baird lowered their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $105.79.

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.