Zurcher Kantonalbank Zurich Cantonalbank Purchases 16,209 Shares of Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Zurcher Kantonalbank increased its stake in Cardinal Health by 12.4%, acquiring 16,209 additional shares, thereby owning about 0.06% of the company, valued at $20.2 million.
• Cardinal Health's stock received multiple upgrades from analysts, with price targets reaching as high as $190.00 and a consensus rating of "Moderate Buy".
• The company recently raised its quarterly dividend to $0.5107 per share, resulting in an annualized total of $2.04 and a dividend yield of 1.30%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,744 shares of the company's stock after buying an additional 16,209 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Cardinal Health worth $20,217,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Empirical Finance LLC boosted its stake in Cardinal Health by 2.6% during the first quarter. Empirical Finance LLC now owns 8,991 shares of the company's stock worth $1,239,000 after acquiring an additional 230 shares in the last quarter. HB Wealth Management LLC boosted its stake in Cardinal Health by 65.7% during the first quarter. HB Wealth Management LLC now owns 10,431 shares of the company's stock worth $1,437,000 after acquiring an additional 4,135 shares in the last quarter. Applied Finance Capital Management LLC boosted its stake in Cardinal Health by 1.4% during the first quarter. Applied Finance Capital Management LLC now owns 6,049 shares of the company's stock worth $833,000 after acquiring an additional 85 shares in the last quarter. Caliber Wealth Management LLC KS bought a new position in Cardinal Health during the first quarter worth $582,000. Finally, Westover Capital Advisors LLC boosted its stake in Cardinal Health by 37.8% during the first quarter. Westover Capital Advisors LLC now owns 2,425 shares of the company's stock worth $334,000 after acquiring an additional 665 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Up 0.6%

Shares of NYSE CAH traded up $0.96 during midday trading on Friday, hitting $156.18. The company's stock had a trading volume of 742,326 shares, compared to its average volume of 2,373,286. The stock has a fifty day moving average price of $159.67 and a 200 day moving average price of $142.48. Cardinal Health, Inc. has a one year low of $96.05 and a one year high of $168.44. The firm has a market capitalization of $37.28 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 1.57 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. Cardinal Health's revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.08 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a dividend of $0.5107 per share. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. Cardinal Health's payout ratio is currently 31.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CAH. Robert W. Baird lifted their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. UBS Group lifted their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Bank of America lifted their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Citigroup reiterated a "neutral" rating and set a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average price target of $158.07.

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.