Foster & Motley Inc. Takes $5.74 Million Position in Cardinal Health, Inc. $CAH

Foster & Motley Inc. acquired a new position in Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,144 shares of the company’s stock, valued at approximately $5,736,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Cardinal Health during the second quarter worth about $6,293,115,000. Norges Bank bought a new stake in Cardinal Health during the 4th quarter valued at approximately $790,344,000. Wellington Management Group LLP lifted its holdings in Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after purchasing an additional 3,511,579 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Cardinal Health in the 2nd quarter worth approximately $308,640,000. Finally, Deutsche Bank AG bought a new position in Cardinal Health in the 2nd quarter worth approximately $238,933,000. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. William Blair assumed coverage on Cardinal Health in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. TD Cowen increased their target price on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Bank of America boosted their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Citigroup increased their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $265.93.

Cardinal Health Price Performance

CAH opened at $234.85 on Wednesday. The firm has a fifty day moving average price of $231.38 and a 200 day moving average price of $217.51. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30. The stock has a market cap of $54.62 billion, a P/E ratio of 32.48, a P/E/G ratio of 1.26 and a beta of 0.49.

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. 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 during the quarter, compared to analysts’ expectations of $65.15 billion. During the same quarter in the previous year, the company earned $2.08 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Equities analysts expect that Cardinal Health, Inc. will post 12.54 EPS for the current year.

Cardinal Health Announces Dividend

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 issued a $0.5158 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio is presently 28.49%.

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.