Westpac Banking Corp Acquires 6,812 Shares of Cardinal Health, Inc. $CAH

Westpac Banking Corp boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 256.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,464 shares of the company’s stock after purchasing an additional 6,812 shares during the period. Westpac Banking Corp’s holdings in Cardinal Health were worth $2,000,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CAH. Integrated Wealth Concepts LLC grew its position in Cardinal Health by 6.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after buying an additional 280 shares during the period. Jones Financial Companies Lllp raised its position in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Cardinal Health in the second quarter valued at about $1,935,000. Cerity Partners LLC boosted its stake in Cardinal Health by 17.0% in the second quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock valued at $6,792,000 after acquiring an additional 5,880 shares during the last quarter. Finally, Nebula Research & Development LLC grew its position in shares of Cardinal Health by 34.4% during the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock valued at $1,736,000 after acquiring an additional 2,646 shares during the period. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the topic of several research analyst reports. Robert W. Baird set a $248.00 price objective on Cardinal Health in a research note on Friday, May 1st. JPMorgan Chase & Co. decreased their target price on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Evercore dropped their price target on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. Finally, Bank of America lifted their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $250.07.

Cardinal Health Trading Down 2.6%

CAH opened at $221.09 on Thursday. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $243.21. The company has a market cap of $51.78 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. The company has a 50 day moving average of $218.69 and a 200 day moving average of $214.20.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.38. The business had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Research analysts forecast that Cardinal Health, Inc. will post 10.77 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.5158 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s payout ratio is currently 31.50%.

Cardinal Health Company Profile

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.