Zurcher Kantonalbank Zurich Cantonalbank Acquires 22,835 Shares of Cardinal Health, Inc. $CAH

Key Points

• Zurcher Kantonalbank increased its stake in Cardinal Health (NYSE:CAH) by 11.2%, acquiring 22,835 shares to hold 227,036 shares worth about $46.66 million (≈0.10% of the company).
• Wall Street analysts show a consensus rating of "Moderate Buy" with a consensus price target of $244.33 after several recent upgrades and higher targets from major firms.
• Cardinal Health beat quarterly expectations with $2.63 EPS and $65.63 billion in revenue (up 18.8% YoY), and it pays a quarterly dividend of $0.5107 (annual $2.04, ~1.0% yield).

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 227,036 shares of the company's stock after purchasing an additional 22,835 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.10% of Cardinal Health worth $46,656,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. boosted its holdings in shares of Cardinal Health by 1,363.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company's stock worth $25,000 after buying an additional 150 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in Cardinal Health during the fourth quarter worth about $25,000. Jones Financial Companies Lllp raised its position in 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 period. JPL Wealth Management LLC bought a new stake in Cardinal Health in the third quarter worth about $31,000. Finally, Turning Point Benefit Group Inc. purchased a new position in Cardinal Health in the third quarter valued at about $31,000. Institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CAH shares. UBS Group set a $260.00 price target on shares of Cardinal Health and gave the stock a "buy" rating in a research note on Friday, February 6th. Mizuho increased their price objective on Cardinal Health from $222.00 to $235.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Citigroup raised Cardinal Health from a "neutral" rating to a "buy" rating and raised their target price for the stock from $190.00 to $244.00 in a research report on Friday, January 9th. TD Cowen boosted their target price on Cardinal Health from $233.00 to $251.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Finally, Evercore dropped their price target on Cardinal Health from $260.00 to $240.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $244.33.

Cardinal Health Trading Down 1.2%

Shares of CAH stock opened at $211.35 on Tuesday. The stock has a market capitalization of $49.73 billion, a P/E ratio of 30.41, a PEG ratio of 1.38 and a beta of 0.64. The firm's 50 day moving average is $216.95 and its 200 day moving average is $203.59. Cardinal Health, Inc. has a 12 month low of $129.52 and a 12 month high of $233.60.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. During the same period last year, the firm earned $1.93 EPS. Cardinal Health's revenue for the quarter was up 18.8% on a year-over-year basis. On average, equities analysts predict that Cardinal Health, Inc. will post 10.32 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is presently 29.35%.

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.

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