Oppenheimer Asset Management Inc. Makes New $533,000 Investment in Cardinal Health, Inc. $CAH

Oppenheimer Asset Management Inc. acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the second quarter, Holdings Channel reports. The institutional investor acquired 2,244 shares of the company’s stock, valued at approximately $533,000.

Several other large investors have also added to or reduced their stakes in CAH. Laraway Financial Advisors Inc bought a new stake in Cardinal Health during the 2nd quarter worth about $359,000. Wedge Capital Management L L P NC grew its holdings in shares of Cardinal Health by 0.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 139,784 shares of the company’s stock valued at $33,207,000 after acquiring an additional 1,175 shares in the last quarter. Investors Research Corp acquired a new stake in shares of Cardinal Health in the second quarter valued at about $29,000. Annex Advisory Services LLC increased its position in shares of Cardinal Health by 6.6% in the second quarter. Annex Advisory Services LLC now owns 2,870 shares of the company’s stock valued at $682,000 after acquiring an additional 178 shares during the last quarter. Finally, Insight Wealth Strategies LLC raised its holdings in Cardinal Health by 7.3% during the second quarter. Insight Wealth Strategies LLC now owns 15,073 shares of the company’s stock worth $3,583,000 after acquiring an additional 1,024 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CAH shares. JPMorgan Chase & Co. raised their price target on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Robert W. Baird increased their price objective on Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Bank of America raised their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Evercore restated an “outperform” rating and set a $270.00 target price on shares of Cardinal Health in a report on Wednesday, August 12th. Finally, Leerink Partners set a $292.00 price target on shares of Cardinal Health in a research report on Tuesday, August 11th. Fifteen 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 stock has an average rating of “Moderate Buy” and a consensus price target of $265.93.

Cardinal Health Stock Up 0.2%

Shares of NYSE CAH opened at $235.68 on Tuesday. The business’s 50 day moving average price is $230.93 and its two-hundred day moving average price is $217.34. The company has a market cap of $54.81 billion, a PE ratio of 32.60, a price-to-earnings-growth 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.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $65.15 billion. During the same period last year, the firm posted $2.08 earnings per share. The business’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, research analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 28.49%.

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.