Pictet Asset Management Holding SA Increases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Pictet Asset Management Holding SA boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,345 shares of the company’s stock after purchasing an additional 23,374 shares during the period. Pictet Asset Management Holding SA’s holdings in Cardinal Health were worth $16,835,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CAH. Cyrus J. Lawrence LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $26,000. Promus Capital LLC acquired a new stake in Cardinal Health during the fourth quarter worth $30,000. Lee Danner & Bass Inc. purchased a new stake in Cardinal Health in the fourth quarter valued at $35,000. Kentucky Trust Co acquired a new position in shares of Cardinal Health in the 4th quarter valued at $41,000. Finally, HHM Wealth Advisors LLC grew its holdings in shares of Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after purchasing an additional 144 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CAH shares. Citigroup boosted their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Mizuho boosted their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley boosted their target price on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.14.

Cardinal Health Price Performance

CAH opened at $137.20 on Wednesday. The business has a fifty day moving average price of $128.78 and a 200 day moving average price of $121.20. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $138.62. The stock has a market capitalization of $33.14 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.47%. Cardinal Health’s payout ratio is 37.69%.

Cardinal Health Company 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.