Global Retirement Partners LLC Invests $1.81 Million in Cardinal Health, Inc. $CAH

Global Retirement Partners LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, Holdings Channel reports. The fund bought 7,610 shares of the company’s stock, valued at approximately $1,808,000.

A number of other large investors have also added to or reduced their stakes in the company. Investors Research Corp acquired a new position in Cardinal Health in the 2nd quarter worth $29,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cardinal Health during the fourth quarter valued at about $26,000. Allied Private Wealth LLC purchased a new stake in shares of Cardinal Health during the second quarter worth about $30,000. Bank of Jackson Hole Trust purchased a new stake in shares of Cardinal Health during the fourth quarter worth about $27,000. Finally, Indiana Trust & Investment Management Co acquired a new position in shares of Cardinal Health in the first quarter worth about $29,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Up 0.2%

Shares of Cardinal Health stock opened at $235.68 on Tuesday. The business has a 50-day moving average price of $230.93 and a 200 day moving average price of $217.34. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30. The firm has a market cap of $54.81 billion, a P/E ratio of 32.60, 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 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The company had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.Cardinal Health’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is 28.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAH. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Bank of America upped their target price on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Leerink Partners set a $292.00 price target on shares of Cardinal Health in a research report on Tuesday, August 11th. William Blair started coverage on shares of Cardinal Health in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Finally, TD Cowen upped their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $265.93.

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.