Stack Financial Management Inc Invests $24.68 Million in Cardinal Health, Inc. $CAH

Stack Financial Management Inc bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 103,893 shares of the company’s stock, valued at approximately $24,681,000. Cardinal Health comprises 1.9% of Stack Financial Management Inc’s holdings, making the stock its 21st biggest position.

Other hedge funds also recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS grew its position in Cardinal Health by 100.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock worth $3,733,000 after purchasing an additional 9,120 shares during the last quarter. Abacus FCF Advisors LLC purchased a new position in shares of Cardinal Health in the fourth quarter worth $7,182,000. Byrne Financial Freedom LLC purchased a new position in shares of Cardinal Health in the fourth quarter worth $1,574,000. Belleair Asset Management LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth $1,100,000. Finally, Axecap Investments LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth $2,371,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Citigroup lifted their price target on Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group boosted their price target on Cardinal Health from $274.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday. Evercore reissued an “outperform” rating and issued a $270.00 price objective on shares of Cardinal Health in a report on Wednesday. Finally, Leerink Partners set a $292.00 price objective on Cardinal Health in a research note on Tuesday. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $265.93.

Cardinal Health Price Performance

NYSE:CAH opened at $234.92 on Friday. The company’s fifty day moving average price is $230.30 and its 200-day moving average price is $217.14. Cardinal Health, Inc. has a 1-year low of $145.87 and a 1-year high of $258.30. The firm has a market capitalization of $54.64 billion, a P/E ratio of 32.49, a PEG ratio of 1.37 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Equities analysts anticipate that Cardinal Health, Inc. will post 12.52 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a $0.5158 dividend. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s payout ratio is 28.49%.

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.