Zurcher Kantonalbank Zurich Cantonalbank Buys 19,151 Shares of Cardinal Health, Inc. (NYSE:CAH)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,927 shares of the company’s stock after acquiring an additional 19,151 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.11% of Cardinal Health worth $27,309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Everence Capital Management Inc. raised its holdings in Cardinal Health by 27.8% during the fourth quarter. Everence Capital Management Inc. now owns 13,940 shares of the company’s stock worth $1,405,000 after buying an additional 3,030 shares during the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in shares of Cardinal Health in the fourth quarter valued at about $246,000. SVB Wealth LLC raised its holdings in shares of Cardinal Health by 49.5% in the fourth quarter. SVB Wealth LLC now owns 3,447 shares of the company’s stock valued at $347,000 after purchasing an additional 1,141 shares during the last quarter. Flputnam Investment Management Co. raised its holdings in shares of Cardinal Health by 239.8% in the fourth quarter. Flputnam Investment Management Co. now owns 168,663 shares of the company’s stock valued at $17,001,000 after purchasing an additional 119,033 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in shares of Cardinal Health by 82.3% in the fourth quarter. Vontobel Holding Ltd. now owns 88,162 shares of the company’s stock valued at $8,887,000 after purchasing an additional 39,800 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on CAH shares. UBS Group increased their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. TheStreet downgraded shares of Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. SVB Leerink assumed coverage on shares of Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target for the company. Finally, Barclays assumed coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Stock Performance

CAH opened at $106.52 on Thursday. The stock has a market capitalization of $25.91 billion, a P/E ratio of 41.94, a P/E/G ratio of 1.03 and a beta of 0.68. The company’s 50-day simple moving average is $109.46 and its two-hundred day simple moving average is $104.02. Cardinal Health, Inc. has a 52-week low of $77.56 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The firm had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. During the same quarter in the prior year, the business earned $1.32 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Research analysts forecast that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.5006 dividend. This represents a $2.00 annualized dividend and a yield of 1.88%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio is 78.74%.

About Cardinal Health

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.