Pictet Asset Management Holding SA Buys 23,374 Shares of Cardinal Health, Inc. (NYSE:CAH)

Pictet Asset Management Holding SA increased its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 19.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 142,345 shares of the company's stock after acquiring an additional 23,374 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Cardinal Health worth $16,835,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CAH. State Street Corp grew its holdings in Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company's stock worth $1,566,913,000 after acquiring an additional 627,253 shares during the period. Geode Capital Management LLC boosted its position in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock valued at $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Amundi increased its holdings 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. Norges Bank acquired a new position in Cardinal Health in the fourth quarter valued at approximately $246,748,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cardinal Health by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company's stock valued at $179,653,000 after buying an additional 44,386 shares during the period. 87.17% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

CAH has been the subject of several research analyst reports. Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Evercore ISI upgraded shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price objective on the stock in a report on Tuesday, January 7th. Morgan Stanley raised their target price on Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Bank of America raised Cardinal Health from a "neutral" rating to a "buy" rating and upped their price target for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and raised their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and an average target price of $140.14.

Cardinal Health Stock Performance

CAH traded down $7.72 during mid-day trading on Friday, reaching $129.37. 3,779,368 shares of the stock were exchanged, compared to its average volume of 2,132,250. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $139.50. The stock has a market capitalization of $31.25 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. The company has a 50 day moving average price of $129.15 and a two-hundred day moving average price of $121.69.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.56%. Cardinal Health's dividend payout ratio (DPR) is currently 37.69%.

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.