Persistent Asset Partners Ltd Acquires New Stake in Cardinal Health, Inc. $CAH

Persistent Asset Partners Ltd purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,695 shares of the company’s stock, valued at approximately $1,170,000.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in shares of Cardinal Health by 328.3% in the 4th quarter. Nordea Investment Management AB now owns 645,436 shares of the company’s stock valued at $133,741,000 after buying an additional 494,731 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Cardinal Health by 44.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock valued at $352,165,000 after buying an additional 707,495 shares during the last quarter. Procyon Advisors LLC grew its position in shares of Cardinal Health by 78.7% in the 4th quarter. Procyon Advisors LLC now owns 17,025 shares of the company’s stock valued at $3,499,000 after buying an additional 7,499 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of Cardinal Health by 66.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 30,007 shares of the company’s stock valued at $4,710,000 after buying an additional 12,003 shares during the last quarter. Finally, Sierra Summit Advisors LLC bought a new stake in shares of Cardinal Health in the 3rd quarter valued at about $9,897,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.5%

Shares of Cardinal Health stock opened at $227.63 on Wednesday. The business has a 50-day moving average price of $203.74 and a two-hundred day moving average price of $209.02. The company has a market cap of $53.31 billion, a P/E ratio of 34.81, a PEG ratio of 1.24 and a beta of 0.52. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $233.60.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating the consensus estimate of $2.79 by $0.38. The company had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Equities research analysts forecast that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.5158 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is 31.19%.

Analyst Ratings Changes

A number of brokerages have weighed in on CAH. Morgan Stanley increased their price target on Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Monday. Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Leerink Partners reiterated an “outperform” rating and set a $275.00 price target on shares of Cardinal Health in a report on Monday, March 9th. Finally, Citigroup decreased their price target on Cardinal Health from $249.00 to $245.00 and set a “buy” rating for the company in a report on Friday, May 1st. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.93.

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.