J. Safra Sarasin Holding AG Makes New Investment in Cardinal Health, Inc. $CAH

J. Safra Sarasin Holding AG purchased a new position in Cardinal Health, Inc. (NYSE:CAH) in the third quarter, HoldingsChannel reports. The firm purchased 8,575 shares of the company’s stock, valued at approximately $1,346,000.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in Cardinal Health during the second quarter worth approximately $584,420,000. Acadian Asset Management LLC increased its position in shares of Cardinal Health by 92.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock valued at $282,063,000 after purchasing an additional 807,063 shares during the period. Prudential Financial Inc. raised its stake in shares of Cardinal Health by 476.8% in the 2nd quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock worth $148,402,000 after buying an additional 730,209 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Cardinal Health by 298.3% in the third quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock valued at $128,978,000 after buying an additional 615,398 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Cardinal Health in the second quarter valued at $79,963,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Down 1.8%

CAH stock opened at $210.22 on Thursday. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $215.48. The firm has a 50-day moving average of $206.07 and a two-hundred day moving average of $177.30. The firm has a market capitalization of $49.95 billion, a PE ratio of 31.71, a P/E/G ratio of 1.45 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. The business had revenue of $64.01 billion for the quarter, compared to analyst estimates of $59.41 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The firm’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, January 2nd. Cardinal Health’s payout ratio is 30.77%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CAH. Mizuho set a $222.00 target price on Cardinal Health in a report on Monday, January 12th. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $221.00 to $237.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Robert W. Baird set a $250.00 target price on shares of Cardinal Health in a research note on Wednesday, January 14th. Finally, Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $190.00 to $244.00 in a research report on Friday, January 9th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $221.07.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.