Focused Alpha LLC Acquires Shares of 2,725 Cardinal Health, Inc. $CAH

Focused Alpha LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,725 shares of the company’s stock, valued at approximately $647,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Cardinal Health in the second quarter worth about $6,293,115,000. Occidental Asset Management LLC purchased a new position in Cardinal Health during the 2nd quarter valued at about $6,793,000. Pallas Capital Advisors LLC bought a new position in Cardinal Health during the 2nd quarter valued at approximately $212,000. Deutsche Bank AG bought a new position in Cardinal Health during the 2nd quarter valued at approximately $238,933,000. Finally, Perigon Wealth Management LLC purchased a new stake in Cardinal Health in the 2nd quarter worth approximately $657,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CAH. Weiss Ratings upgraded Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, August 5th. Mizuho raised their price target on Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Citigroup lifted their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. William Blair started coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Finally, Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.93.

Cardinal Health Stock Performance

Cardinal Health stock opened at $235.68 on Tuesday. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30. The stock’s 50 day simple moving average is $230.93 and its two-hundred day simple moving average is $217.34. The stock has a market cap of $54.81 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 1.26 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a $0.5158 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend 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.