Flputnam Investment Management Co. Makes New $16.80 Million Investment in Cardinal Health, Inc. $CAH

Flputnam Investment Management Co. bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, Holdings Channel reports. The firm bought 70,728 shares of the company’s stock, valued at approximately $16,802,000.

Other institutional investors have also modified their holdings of the company. Investors Research Corp acquired a new stake in shares of Cardinal Health during the second quarter worth $29,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cardinal Health in the 4th quarter valued at $26,000. Allied Private Wealth LLC acquired a new position in Cardinal Health in the 2nd quarter valued at $30,000. Bank of Jackson Hole Trust purchased a new position in Cardinal Health during the 4th quarter worth $27,000. Finally, Indiana Trust & Investment Management Co purchased a new position in Cardinal Health during the 1st quarter worth $29,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.1%

CAH stock opened at $234.92 on Monday. The firm has a 50 day moving average of $230.30 and a 200-day moving average of $217.19. The company has a market cap of $54.64 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.26 and a beta of 0.49. Cardinal Health, Inc. has a 12-month low of $145.87 and a 12-month high of $258.30.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The business had revenue of $63.67 billion for the quarter, compared to analysts’ expectations of $65.15 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. The company’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. Sell-side analysts forecast 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 given a $0.5158 dividend. The ex-dividend date 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 currently 28.49%.

Analysts Set New Price Targets

CAH has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. William Blair initiated coverage on shares of Cardinal Health in a report on Tuesday, April 28th. They set an “outperform” rating for the company. TD Cowen raised their price objective on shares of Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday. Barclays lifted their price objective on Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday. Finally, UBS Group increased their target price on Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $265.93.

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.