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

J. Safra Sarasin Holding AG bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,575 shares of the company’s stock, valued at approximately $1,346,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. SJS Investment Consulting Inc. grew its stake 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 purchasing an additional 150 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in shares of Cardinal Health by 75.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock worth $29,000 after buying an additional 75 shares in the last quarter. American Capital Advisory LLC grew its holdings in Cardinal Health by 5,200.0% during the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after acquiring an additional 208 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC grew its stake in Cardinal Health by 55.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 71 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CAH. Barclays began coverage on Cardinal Health in a research report on Monday, December 8th. They set an “overweight” rating and a $243.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Cardinal Health from $221.00 to $237.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Mizuho set a $222.00 price objective on shares of Cardinal Health in a research report on Monday, January 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. Finally, Citigroup upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their target price for the company from $190.00 to $244.00 in a research note on Friday, January 9th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $221.07.

Cardinal Health Trading Down 1.8%

NYSE CAH opened at $210.22 on Thursday. The company has a 50-day moving average price of $206.07 and a two-hundred day moving average price of $177.30. Cardinal Health, Inc. has a 52 week low of $120.72 and a 52 week high of $215.48. The stock has a market cap of $49.95 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth 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 for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. Cardinal Health had a negative return on equity of 84.37% and a net margin of 0.68%.The company had revenue of $64.01 billion for the quarter, compared to analysts’ expectations of $59.41 billion. During the same quarter in the previous year, the company posted $1.88 earnings per share. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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

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.