Swiss National Bank Grows Holdings in Cardinal Health, Inc. (NYSE:CAH)

Swiss National Bank grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 722,800 shares of the company’s stock after buying an additional 2,700 shares during the quarter. Swiss National Bank owned 0.30% of Cardinal Health worth $79,884,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Paragon Capital Management Inc. lifted its stake in Cardinal Health by 0.7% during the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after purchasing an additional 99 shares during the last quarter. Midland Wealth Advisors LLC lifted its stake in Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in Cardinal Health by 5.1% during the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after purchasing an additional 100 shares during the last quarter. Finally, Huntington National Bank lifted its stake in Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after purchasing an additional 100 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CAH. Argus raised their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley increased their target price on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Mizuho increased their target price on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Buying and Selling

In related news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The trade was a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.

Cardinal Health Stock Performance

Shares of CAH opened at $120.03 on Tuesday. The firm has a market capitalization of $29.05 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The stock’s fifty day moving average is $113.28 and its 200-day moving average is $105.34.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 earnings per share. Analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Cardinal Health 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.