Everett Harris & Co. CA Takes Position in Cardinal Health, Inc. $CAH

Everett Harris & Co. CA acquired a new position in Cardinal Health, Inc. (NYSE:CAH) in the second quarter, Holdings Channel.com reports. The fund acquired 8,993 shares of the company’s stock, valued at approximately $2,136,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. purchased a new stake in Cardinal Health in the fourth quarter valued at about $26,000. Bank of Jackson Hole Trust purchased a new stake in shares of Cardinal Health during the fourth quarter worth about $27,000. Jones Financial Companies Lllp grew its stake in shares of Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the last quarter. Palladiem LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at about $28,000. Finally, Indiana Trust & Investment Management Co acquired a new position in shares of Cardinal Health during the first quarter valued at about $29,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CAH. William Blair assumed coverage on shares of Cardinal Health in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Wells Fargo & Company upped their price target on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley raised their price target on shares of Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday. TD Cowen lifted their price objective on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday. 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $265.93.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $234.92 on Friday. The company has a market capitalization of $54.64 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 1.37 and a beta of 0.49. The company’s fifty day moving average price is $230.30 and its 200 day moving average price is $217.14. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year 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 for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. The company had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities analysts expect that Cardinal Health, Inc. will post 12.52 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a $0.5158 dividend. 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 currently 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.