Foster & Motley Inc. acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) in the second quarter, Holdings Channel.com reports. The firm acquired 24,144 shares of the company’s stock, valued at approximately $5,736,000.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Cardinal Health during the 2nd quarter worth about $6,293,115,000. Norges Bank acquired a new stake in Cardinal Health in the 4th quarter worth about $790,344,000. Wellington Management Group LLP increased its stake in Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after buying an additional 3,511,579 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Cardinal Health during the 2nd quarter worth approximately $308,640,000. Finally, Deutsche Bank AG acquired a new position in shares of Cardinal Health during the second quarter valued at approximately $238,933,000. Institutional investors and hedge funds own 87.17% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Wells Fargo & Company raised their price objective on Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Barclays upped their target price on shares of Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Finally, Citigroup increased their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.93.
Cardinal Health Trading Down 0.3%
Shares of NYSE:CAH opened at $234.85 on Wednesday. The company 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, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30. The firm has a 50 day simple moving average of $231.38 and a 200-day simple moving average of $217.51.
Cardinal Health (NYSE:CAH – Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $2.91 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 firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same period last year, the firm posted $2.08 EPS. 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. As a group, equities research analysts predict that Cardinal Health, Inc. will post 12.54 EPS for the current fiscal year.
Cardinal Health Dividend Announcement
The company 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. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. 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.
Featured Articles
- Five stocks we like better than Cardinal Health
- The AI Boom Is Turning This Cable Maker Into a Stock to Watch
- A Star Investor Just Trimmed Amazon—Here’s What It means
- Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look
- Home Depot Analysts See a Path to $375 and Beyond
Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH – Free Report).
Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.
