Danske Bank A S Acquires New Stake in Cardinal Health, Inc. $CAH

Danske Bank A S purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 152,022 shares of the company’s stock, valued at approximately $36,114,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Investors Research Corp bought a new position in shares of Cardinal Health during the 2nd quarter worth $29,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cardinal Health in the 4th quarter worth approximately $26,000. Allied Private Wealth LLC acquired a new position in shares of Cardinal Health during the second quarter worth $30,000. Bank of Jackson Hole Trust acquired a new position in Cardinal Health during the 4th quarter valued at about $27,000. Finally, Indiana Trust & Investment Management Co acquired a new position in shares of Cardinal Health during the first quarter valued at about $29,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

NYSE CAH opened at $234.73 on Thursday. Cardinal Health, Inc. has a 1-year low of $145.87 and a 1-year high of $258.30. The stock has a 50-day moving average of $231.76 and a two-hundred day moving average of $217.68. The company has a market cap of $54.59 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.26 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last released its earnings results 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 firm had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. During the same period last year, the business posted $2.08 earnings per share. Cardinal Health’s revenue was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, analysts anticipate that Cardinal Health, Inc. will post 12.54 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a dividend of $0.5158 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. Cardinal Health’s payout ratio is presently 28.49%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAH. Bank of America raised their target price on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Morgan Stanley raised their price objective on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Weiss Ratings raised shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, August 5th. Finally, Mizuho increased their price objective on shares of Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $266.56.

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.