Pictet Asset Management Holding SA Sells 49,329 Shares of Cardinal Health, Inc. $CAH

Pictet Asset Management Holding SA lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 20.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 195,357 shares of the company’s stock after selling 49,329 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Cardinal Health were worth $41,263,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Aventura Private Wealth LLC acquired a new position in Cardinal Health during the fourth quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cardinal Health during the 4th quarter worth $26,000. Bank of Jackson Hole Trust bought a new stake in Cardinal Health during the fourth quarter valued at about $27,000. Palladiem LLC bought a new stake in Cardinal Health during the fourth quarter valued at about $28,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $34,000. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent analyst reports. Evercore dropped their price objective on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Cardinal Health in a report on Monday, March 9th. TD Cowen lifted their price target on Cardinal Health from $251.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. cut their price target on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Finally, Wells Fargo & Company reduced their price objective on Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $246.93.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $237.87 on Wednesday. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $240.93. The firm has a market capitalization of $55.71 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company’s fifty day moving average price is $207.00 and its two-hundred day moving average price is $210.93.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The business had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the previous year, the business earned $2.35 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Analysts predict that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.5158 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is 31.50%.

About Cardinal Health

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.