UNIVEST FINANCIAL Corp Makes New Investment in Cardinal Health, Inc. $CAH

UNIVEST FINANCIAL Corp bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,249 shares of the company’s stock, valued at approximately $534,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Cardinal Health by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after purchasing an additional 617,775 shares during the period. BlackRock Inc. acquired a new stake in Cardinal Health during the 2nd quarter valued at $6,293,115,000. State Street Corp raised its stake in Cardinal Health by 1.8% during the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after purchasing an additional 221,497 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cardinal Health by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after purchasing an additional 43,924 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Cardinal Health by 153.2% in the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CAH. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Barclays increased their price objective on Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday. Leerink Partners set a $292.00 price objective on Cardinal Health in a research report on Tuesday, August 11th. William Blair initiated coverage on Cardinal Health in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. Finally, Weiss Ratings upgraded Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, August 5th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.93.

Cardinal Health Stock Up 0.2%

Cardinal Health stock opened at $235.68 on Tuesday. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30. The stock 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. The company’s fifty day simple moving average is $230.93 and its 200-day simple moving average is $217.34.

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. The business had revenue of $63.67 billion during the quarter, compared to analyst estimates 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 period last year, the company earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities research analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

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

Cardinal Health Company 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.