Swiss National Bank Has $79.88 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Swiss National Bank lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 722,800 shares of the company’s stock after purchasing an additional 2,700 shares during the period. Swiss National Bank’s holdings in Cardinal Health were worth $79,884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpha Cubed Investments LLC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at $371,000. Bessemer Group Inc. boosted its position in Cardinal Health by 38.7% during the 1st quarter. Bessemer Group Inc. now owns 19,190 shares of the company’s stock worth $2,148,000 after acquiring an additional 5,352 shares during the period. Murphy Pohlad Asset Management LLC acquired a new stake in Cardinal Health during the 2nd quarter worth about $1,208,000. Cetera Investment Advisers boosted its position in Cardinal Health by 62.7% during the 1st quarter. Cetera Investment Advisers now owns 115,755 shares of the company’s stock worth $12,953,000 after acquiring an additional 44,615 shares during the period. Finally, Fiera Capital Corp acquired a new stake in Cardinal Health during the 3rd quarter worth about $507,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insiders Place Their Bets

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CAH. JPMorgan Chase & Co. raised their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Mizuho raised their price objective on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Wells Fargo & Company raised their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Robert W. Baird raised their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, UBS Group lifted their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Stock Performance

Shares of CAH stock opened at $120.03 on Tuesday. The stock’s 50 day simple moving average is $113.28 and its 200 day simple moving average is $105.34. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $126.14. The company has a market capitalization of $29.05 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.73 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.68%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend 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.