OP Asset Management Ltd Takes $20.95 Million Position in Cardinal Health, Inc. $CAH

OP Asset Management Ltd acquired a new position in Cardinal Health, Inc. (NYSE:CAH) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 99,131 shares of the company’s stock, valued at approximately $20,947,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAH. Redhawk Wealth Advisors Inc. boosted its holdings in Cardinal Health by 0.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock valued at $1,902,000 after acquiring an additional 48 shares during the period. HF Advisory Group LLC increased its stake in Cardinal Health by 0.9% in the 4th quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock worth $1,074,000 after purchasing an additional 49 shares during the period. Hillsdale Investment Management Inc. lifted its position in Cardinal Health by 0.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock valued at $1,184,000 after purchasing an additional 50 shares during the last quarter. Generali Asset Management SPA SGR lifted its position in Cardinal Health by 11.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock valued at $105,000 after purchasing an additional 51 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in shares of Cardinal Health by 0.9% during the fourth quarter. Stephens Inc. AR now owns 5,951 shares of the company’s stock valued at $1,223,000 after purchasing an additional 52 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 2.1%

NYSE:CAH opened at $233.61 on Thursday. The company has a 50-day moving average price of $205.15 and a 200-day moving average price of $209.86. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $235.71. The stock has a market cap of $54.71 billion, a price-to-earnings ratio of 35.72, a P/E/G ratio of 1.25 and a beta of 0.52.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The company had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. During the same quarter in the previous year, the company earned $2.35 earnings per share. Cardinal Health’s quarterly revenue was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Equities analysts forecast that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.5158 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 31.19%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Leerink Partners reissued an “outperform” rating and set a $275.00 price target on shares of Cardinal Health in a research report on Monday, March 9th. Citigroup cut their price target on shares of Cardinal Health from $249.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Evercore decreased their price objective on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. Finally, Wall Street Zen downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 15th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.93.

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.