Citizens Financial Group Inc. RI Buys Shares of 3,374 Cardinal Health, Inc. $CAH

Citizens Financial Group Inc. RI bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, HoldingsChannel reports. The firm bought 3,374 shares of the company’s stock, valued at approximately $801,000.

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

Cardinal Health Trading Down 0.3%

Shares of NYSE CAH opened at $234.85 on Wednesday. The firm has a market cap of $54.62 billion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49. Cardinal Health, Inc. has a 1-year low of $145.87 and a 1-year high of $258.30. The business’s 50 day moving average is $231.38 and its 200-day moving average is $217.51.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping 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 company had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The company’s 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. Analysts forecast that Cardinal Health, Inc. will post 12.54 EPS for the current year.

Cardinal Health Announces Dividend

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

Analyst Ratings Changes

CAH has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Evercore reissued an “outperform” rating and set a $270.00 price target on shares of Cardinal Health in a research report on Wednesday, August 12th. JPMorgan Chase & Co. raised their price objective on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. William Blair assumed coverage on Cardinal Health in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Finally, Weiss Ratings raised shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, August 5th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $265.93.

Cardinal Health 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.