Occidental Asset Management LLC Takes $6.79 Million Position in Cardinal Health, Inc. $CAH

Occidental Asset Management LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,593 shares of the company’s stock, valued at approximately $6,793,000.

Several other large investors have also recently added to or reduced their stakes in CAH. Integrated Wealth Concepts LLC lifted its holdings in Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after buying an additional 280 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Cardinal Health during the second quarter worth $1,935,000. Cerity Partners LLC increased its position in shares of Cardinal Health by 17.0% during the second quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock worth $6,792,000 after acquiring an additional 5,880 shares during the period. Finally, Nebula Research & Development LLC raised its stake in shares of Cardinal Health by 34.4% in the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock valued at $1,736,000 after acquiring an additional 2,646 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

NYSE:CAH 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 firm has a market capitalization of $54.81 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49. The business’s fifty day moving average price is $230.93 and its 200 day moving average price is $217.34.

Cardinal Health (NYSE:CAH) last released 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. 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 during the quarter, compared to analysts’ expectations of $65.15 billion. During the same period in the prior year, the firm posted $2.08 EPS. The business’s quarterly 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. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 12.55 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. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio is 28.49%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Evercore reiterated an “outperform” rating and issued a $270.00 target price on shares of Cardinal Health in a report on Wednesday, August 12th. TD Cowen increased their price target on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Robert W. Baird upped their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.