Deutsche Bank AG Acquires New Stake in Cardinal Health, Inc. $CAH

Deutsche Bank AG acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the second quarter, HoldingsChannel.com reports. The fund acquired 1,005,780 shares of the company’s stock, valued at approximately $238,933,000.

Several other hedge funds also recently made changes to their positions in CAH. Perigon Wealth Management LLC acquired a new position in shares of Cardinal Health during the second quarter worth about $657,000. Commerzbank Aktiengesellschaft FI purchased a new position in Cardinal Health during the second quarter worth about $237,000. Trust Co. of Vermont acquired a new stake in Cardinal Health in the second quarter valued at about $999,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Cardinal Health in the second quarter valued at about $141,723,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in Cardinal Health in the 2nd quarter valued at approximately $590,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CAH. UBS Group increased their target price on Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Wells Fargo & Company upped their price objective on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Leerink Partners set a $292.00 price objective on Cardinal Health in a research report on Tuesday, August 11th. Mizuho raised their target price on Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, Bank of America boosted their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $265.93.

Cardinal Health Stock Down 0.3%

Cardinal Health stock opened at $234.85 on Wednesday. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The firm’s 50-day simple moving average is $231.38 and its 200 day simple moving average is $217.51. The firm has a market capitalization of $54.62 billion, a PE ratio of 32.48, a P/E/G ratio of 1.26 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 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 the consensus estimate of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, research analysts expect that Cardinal Health, Inc. will post 12.54 EPS 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. Investors of record on Thursday, October 1st will be given a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s payout ratio is currently 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.