State of Wyoming Makes New Investment in Cardinal Health, Inc. $CAH

State of Wyoming bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,879 shares of the company’s stock, valued at approximately $921,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Cardinal Health by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock valued at $6,461,179,000 after acquiring an additional 617,775 shares during the last quarter. State Street Corp grew its holdings in Cardinal Health by 1.8% during the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock worth $2,570,647,000 after acquiring an additional 221,497 shares during the period. Geode Capital Management LLC raised its position in shares of Cardinal Health by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after acquiring an additional 43,924 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after acquiring an additional 3,511,579 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Cardinal Health in the 4th quarter valued at $790,344,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 1.6%

CAH opened at $234.92 on Friday. The stock has a market cap of $54.64 billion, a P/E ratio of 32.49, a P/E/G ratio of 1.39 and a beta of 0.49. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30. The company has a fifty day simple moving average of $230.30 and a 200 day simple moving average of $217.14.

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 the consensus estimate 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 analyst estimates of $65.15 billion. During the same period in the previous year, the company posted $2.08 earnings per share. The company’s revenue for the quarter 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 expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued 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 28.49%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CAH shares. Leerink Partners set a $292.00 price target on Cardinal Health in a research report on Tuesday. Weiss Ratings raised Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. TD Cowen boosted their target price on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their price target on Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research note on Wednesday. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.