5 Best Pharma Stocks To Buy Now

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In this article, we discuss the 5 best pharma stocks to buy now. If you want to see more stocks in this selection, check out the 10 Best Pharma Stocks To Buy Now.

5. Cardinal Health, Inc. (NYSE:CAH)

Number of Hedge Fund Holders: 44

Cardinal Health, Inc. (NYSE:CAH) is a Dublin, Ohio-based pharmaceutical distributor and a maker of medical laboratory products.

Cardinal Health, Inc. (NYSE:CAH) offers investors a forward dividend yield of 2.91% as of October 21. The company is a member of the Dividend Aristocrat list, as it has been increasing its dividends for the past 25 years. Cardinal Health, Inc. (NYSE:CAH) is making a transition as it is focusing on leveraging the performance of its strong pharmaceutical segment and possibly spin-off the medical devices segment. The pharmaceutical segment of the company saw an increase of 14% YoY in revenues in 2021.

Furthermore, Cardinal Health, Inc. (NYSE:CAH) entered into an agreement with activist investor Elliot Management in early September. Under the agreement, the company has agreed to elect four new directors to its board at the next annual general meeting. Earlier, Cardinal Health, Inc. (NYSE:CAH) also announced that its CEO Mike Kaufmann will step down and will be succeeded by CFO Jason Hollar. The move reflects a different direction undertaken by the company to boost “shareholder value creation” under the new leadership team. These strategic moves by the company are expected to provide significant upside to investors in the future, making it one of the best pharmaceutical stocks to buy now.

Citadel Investment Group raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 2006% during Q2 2022.

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