2,725 Shares in Cardinal Health, Inc. $CAH Purchased by Focused Alpha LLC

Focused Alpha LLC acquired a new position in Cardinal Health, Inc. (NYSE:CAH) during the second quarter, HoldingsChannel reports. The institutional investor acquired 2,725 shares of the company’s stock, valued at approximately $647,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Cardinal Health by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after purchasing an additional 617,775 shares in the last quarter. BlackRock Inc. bought a new position in Cardinal Health during the 2nd quarter valued at approximately $6,293,115,000. State Street Corp increased its position in Cardinal Health by 1.8% during the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after buying an additional 221,497 shares in the last quarter. Geode Capital Management LLC raised its stake in Cardinal Health by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after buying an additional 43,924 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after buying an additional 3,511,579 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Evercore reissued an “outperform” rating and issued a $270.00 target price on shares of Cardinal Health in a research note on Wednesday, August 12th. Bank of America lifted their price target on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Morgan Stanley increased their price objective on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Finally, TD Cowen lifted their target price on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $265.93.

Cardinal Health Trading Up 0.2%

Cardinal Health stock opened at $235.68 on Tuesday. The firm has a market cap of $54.81 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 1.26 and a beta of 0.49. The stock has a fifty day simple moving average of $230.93 and a two-hundred day simple moving average of $217.34. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30.

Cardinal Health (NYSE:CAH) last announced its quarterly 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 negative return on equity of 98.53% and a net margin of 0.67%.The firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the prior year, the company posted $2.08 earnings per share. The company’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. On average, equities research analysts forecast that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a $0.5158 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s payout ratio is 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.