State of Wyoming Invests $921,000 in Cardinal Health, Inc. $CAH

State of Wyoming acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the second quarter, HoldingsChannel reports. The firm acquired 3,879 shares of the company’s stock, valued at approximately $921,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC increased its holdings in Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after purchasing an additional 280 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Cardinal Health in the second quarter valued at about $1,935,000. Cerity Partners LLC boosted its position in shares of Cardinal Health by 17.0% during the second quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock worth $6,792,000 after buying an additional 5,880 shares during the period. Finally, Nebula Research & Development LLC boosted its position in shares of Cardinal Health by 34.4% during the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock worth $1,736,000 after buying an additional 2,646 shares during the period. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CAH. TD Cowen increased their price objective on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings raised Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, August 5th. Citigroup raised their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley boosted their price objective on shares of Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $265.93.

Cardinal Health Stock Performance

NYSE:CAH opened at $234.92 on Friday. Cardinal Health, Inc. has a 52-week low of $145.87 and a 52-week high of $258.30. The company has a market cap of $54.64 billion, a P/E ratio of 32.49, a P/E/G ratio of 1.39 and a beta of 0.49. The stock’s 50-day simple moving average is $230.30 and its 200 day simple moving average is $217.14.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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 dividend payout ratio is presently 28.49%.

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.