Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 130,535 shares of the company’s stock after selling 6,746 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Cardinal Health worth $15,438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Amundi grew its stake in Cardinal Health by 5.5% in the fourth quarter. Amundi now owns 2,116,291 shares of the company’s stock worth $259,309,000 after purchasing an additional 110,605 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of Cardinal Health by 5.2% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 3,128 shares of the company’s stock worth $370,000 after buying an additional 155 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Cardinal Health by 5.3% during the fourth quarter. Larson Financial Group LLC now owns 9,433 shares of the company’s stock valued at $1,116,000 after buying an additional 473 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Cardinal Health in the fourth quarter valued at about $710,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Cardinal Health by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 73,881 shares of the company’s stock valued at $8,738,000 after acquiring an additional 1,179 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the topic of a number of research reports. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Mizuho assumed coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target on the stock. Finally, Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $126.87 on Thursday. The firm has a market capitalization of $30.65 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.49 and a beta of 0.66. The business’s 50-day moving average is $125.99 and its 200 day moving average is $119.14. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $132.84.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

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.