Cardinal Health, Inc. $CAH Stock Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 15.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 207,920 shares of the company’s stock after purchasing an additional 28,232 shares during the period. Pictet Asset Management Holding SA owned about 0.09% of Cardinal Health worth $46,264,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Cardinal Health during the second quarter worth $6,293,115,000. Wellington Management Group LLP lifted its stake in shares of Cardinal Health by 247.5% in the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after acquiring an additional 10,584,119 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Cardinal Health in the 2nd quarter valued at $689,066,000. Legal & General Group Plc acquired a new stake in shares of Cardinal Health during the 2nd quarter valued at $438,870,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of Cardinal Health by 14.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock valued at $330,728,000 after acquiring an additional 200,021 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Jessica L. Mayer sold 29,436 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the completion of the sale, the insider owned 33,076 shares of the company’s stock, valued at $7,812,220.44. This trade represents a 47.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Stephen M. Mason sold 35,000 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the completion of the sale, the chief executive officer directly owned 18,061 shares of the company’s stock, valued at approximately $4,269,620.40. This trade represents a 65.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 210,271 shares of company stock worth $49,626,657 over the last three months. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CAH shares. Wells Fargo & Company increased their target price on Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Citigroup boosted their price target on Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Royal Bank Of Canada upped their price objective on Cardinal Health from $276.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. TD Cowen raised their price objective on shares of Cardinal Health from $280.00 to $304.00 and gave the company a “buy” rating in a report on Monday. Finally, Leerink Partners set a $292.00 price objective on shares of Cardinal Health in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $275.62.

Cardinal Health Stock Up 1.0%

Shares of NYSE:CAH opened at $276.96 on Wednesday. The firm has a market cap of $64.02 billion, a P/E ratio of 35.83, a P/E/G ratio of 1.60 and a beta of 0.53. Cardinal Health, Inc. has a 12-month low of $180.45 and a 12-month high of $286.29. The business has a fifty day simple moving average of $242.08 and a 200 day simple moving average of $224.22.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, November 5th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.32. Cardinal Health had a negative return on equity of 102.72% and a net margin of 0.71%. The company had revenue of $67.51 billion for the quarter, compared to analyst estimates of $66.67 billion. During the same period in the previous year, the firm earned $2.55 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts expect that Cardinal Health, Inc. will post 12.96 EPS for the current year.

Cardinal Health Company Profile

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers. The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations. Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.