Procyon Advisors LLC Makes New Investment in Cardinal Health, Inc. $CAH

Procyon Advisors LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,526 shares of the company’s stock, valued at approximately $1,495,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Cardinal Health during the second quarter worth $584,420,000. Acadian Asset Management LLC grew its stake in Cardinal Health by 92.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock valued at $282,063,000 after purchasing an additional 807,063 shares during the period. Prudential Financial Inc. increased its position in shares of Cardinal Health by 476.8% during the 2nd quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock valued at $148,402,000 after purchasing an additional 730,209 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Cardinal Health by 298.3% during the 3rd quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock worth $128,978,000 after purchasing an additional 615,398 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Cardinal Health in the 2nd quarter worth about $79,963,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of a number of research analyst reports. Robert W. Baird set a $250.00 price objective on shares of Cardinal Health in a report on Wednesday. Mizuho set a $222.00 price target on shares of Cardinal Health in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a report on Tuesday, November 18th. Leerink Partners set a $240.00 price objective on Cardinal Health in a report on Tuesday. Finally, TD Cowen boosted their target price on Cardinal Health from $183.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $216.33.

Cardinal Health Trading Down 0.1%

CAH opened at $213.25 on Friday. The company has a 50 day moving average of $205.19 and a 200 day moving average of $174.32. The company has a market cap of $50.67 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 1.52 and a beta of 0.65. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $215.48.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The business had revenue of $64.01 billion for the quarter, compared to analysts’ expectations of $59.41 billion. During the same quarter in the previous year, the firm posted $1.88 EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. Research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd were paid a $0.5107 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.04 annualized dividend and a yield of 1.0%. Cardinal Health’s dividend payout ratio (DPR) is currently 30.77%.

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.