28,232 Cardinal Health, Inc. $CAH Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 15.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 207,920 shares of the company’s stock after buying an additional 28,232 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Cardinal Health were worth $46,264,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Downshift Financial LLC boosted its holdings in Cardinal Health by 3,666.7% during the 3rd quarter. Downshift Financial LLC now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 110 shares during the last quarter. Maryland Capital Advisors Inc. raised its holdings in shares of Cardinal Health by 12,600.0% in the third quarter. Maryland Capital Advisors Inc. now owns 127 shares of the company’s stock valued at $28,000 after purchasing an additional 126 shares during the last quarter. Investors Research Corp purchased a new stake in shares of Cardinal Health in the second quarter valued at about $29,000. Allied Private Wealth LLC purchased a new stake in shares of Cardinal Health in the second quarter valued at about $30,000. Finally, Brown Lisle Cummings Inc. lifted its position in shares of Cardinal Health by 1,562.5% during the third quarter. Brown Lisle Cummings Inc. now owns 133 shares of the company’s stock valued at $30,000 after purchasing an additional 125 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Jessica Mayer sold 29,436 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total value of $6,952,488.84. Following the completion of the sale, the insider directly owned 33,076 shares of the company’s stock, valued at $7,812,220.44. This trade represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michelle Greene sold 11,650 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the sale, the insider directly owned 10,330 shares of the company’s stock, valued at $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 210,271 shares of company stock valued at $49,626,657 in the last quarter. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

CAH has been the topic of several analyst reports. Weiss Ratings upgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Citigroup upped their price objective on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada increased their price objective on shares of Cardinal Health from $276.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 25th. Finally, Robert W. Baird lifted their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $275.62.

Cardinal Health Stock Performance

Shares of CAH stock opened at $276.96 on Wednesday. The firm has a market cap of $64.02 billion, a price-to-earnings ratio of 35.83, a P/E/G ratio of 1.60 and a beta of 0.53. Cardinal Health, Inc. has a 52 week low of $180.45 and a 52 week high of $286.29. The firm’s 50-day simple moving average is $242.08 and its two-hundred day simple moving average is $224.22.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, November 5th. The company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.32. The company had revenue of $67.51 billion during the quarter, compared to analyst estimates of $66.67 billion. Cardinal Health had a net margin of 0.71% and a negative return on equity of 102.72%. Cardinal Health’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.55 EPS. Analysts forecast that Cardinal Health, Inc. will post 12.96 earnings per share for the current year.

Cardinal Health 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.