Swiss Life Asset Management Ltd Increases Stock Position in Cardinal Health, Inc. $CAH

Swiss Life Asset Management Ltd grew its holdings in Cardinal Health, Inc. (NYSE:CAH) by 73.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,736 shares of the company’s stock after purchasing an additional 32,464 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Cardinal Health were worth $12,044,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. grew its holdings in Cardinal Health by 1,363.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after buying an additional 150 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Cardinal Health in the third quarter valued at $31,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Cardinal Health in the third quarter valued at $31,000. Finally, American Capital Advisory LLC boosted its stake in shares of Cardinal Health by 5,200.0% during the third quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock valued at $33,000 after acquiring an additional 208 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 1.4%

Shares of CAH opened at $207.91 on Friday. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $233.60. The company’s fifty day moving average is $217.62 and its two-hundred day moving average is $194.11. The firm has a market cap of $48.93 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 1.36 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.5107 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 annualized dividend and a yield of 1.0%. Cardinal Health’s dividend payout ratio is currently 29.35%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CAH shares. Barclays lifted their price objective on Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 24th. Leerink Partners reaffirmed an “outperform” rating and set a $275.00 price target on shares of Cardinal Health in a research note on Monday, March 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. Wall Street Zen lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $245.67.

Cardinal Health Company 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.