Perigon Wealth Management LLC Acquires New Shares in Cardinal Health, Inc. $CAH

Perigon Wealth Management LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,767 shares of the company’s stock, valued at approximately $657,000.

Several other large investors have also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cardinal Health during the fourth quarter worth about $26,000. Bank of Jackson Hole Trust bought a new stake in Cardinal Health in the 4th quarter valued at about $27,000. Jones Financial Companies Lllp lifted its position in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the last quarter. Palladiem LLC acquired a new position in Cardinal Health during the 4th quarter valued at about $28,000. Finally, Indiana Trust & Investment Management Co acquired a new position in Cardinal Health during the 1st quarter valued at about $29,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on CAH. Robert W. Baird raised their price target on shares of Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Royal Bank Of Canada assumed coverage on Cardinal Health in a report on Wednesday. They issued an “outperform” rating and a $276.00 price objective for the company. Mizuho raised their target price on Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Finally, William Blair started coverage on Cardinal Health in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. Sixteen 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Trading Down 0.1%

Shares of NYSE CAH opened at $234.73 on Thursday. Cardinal Health, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30. The firm has a 50-day moving average of $231.76 and a two-hundred day moving average of $217.68. The company has a market capitalization of $54.59 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.26 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data 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. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company had revenue of $63.67 billion for the quarter, compared to analysts’ expectations of $65.15 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The business’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. As a group, research analysts predict that Cardinal Health, Inc. will post 12.54 earnings per share for the current year.

Cardinal Health Announces Dividend

The business 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 $0.5158 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend 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.