Pictet Asset Management Ltd. Raises Stock Holdings in Cardinal Health Inc (NYSE:CAH)

Pictet Asset Management Ltd. grew its stake in Cardinal Health Inc (NYSE:CAH) by 3.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 159,588 shares of the company’s stock after purchasing an additional 4,643 shares during the period. Pictet Asset Management Ltd. owned approximately 0.05% of Cardinal Health worth $7,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. WP Advisors LLC acquired a new stake in Cardinal Health in the first quarter valued at $26,000. Bremer Bank National Association purchased a new stake in Cardinal Health in the 1st quarter worth approximately $27,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Cardinal Health during the 4th quarter valued at $32,000. CNB Bank purchased a new stake in shares of Cardinal Health during the 4th quarter valued at $36,000. Finally, Farmers National Bank purchased a new stake in shares of Cardinal Health during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 88.50% of the company’s stock.

Shares of Cardinal Health stock traded up $0.49 during trading on Friday, reaching $47.10. The company had a trading volume of 2,604,646 shares, compared to its average volume of 3,049,655. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.54 and a current ratio of 1.07. Cardinal Health Inc has a fifty-two week low of $42.01 and a fifty-two week high of $58.31. The firm’s fifty day simple moving average is $45.07. The firm has a market capitalization of $13.86 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 1.45 and a beta of 1.20.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 9th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. The firm had revenue of $35.23 billion during the quarter, compared to the consensus estimate of $35.09 billion. During the same quarter last year, the company posted $1.39 EPS. Cardinal Health’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Cardinal Health Inc will post 5.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.4811 dividend. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 annualized dividend and a dividend yield of 4.09%. Cardinal Health’s dividend payout ratio (DPR) is 38.20%.

Several analysts have recently issued reports on the stock. ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 9th. Guggenheim assumed coverage on shares of Cardinal Health in a research report on Wednesday, April 17th. They set a “neutral” rating and a $51.00 price target for the company. Zacks Investment Research cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, Wolfe Research assumed coverage on shares of Cardinal Health in a research report on Tuesday, April 2nd. They set an “underperform” rating for the company. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Cardinal Health has an average rating of “Hold” and an average target price of $56.20.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

Further Reading: Different Types of Derivatives

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

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