6,085 Shares in Cardinal Health, Inc. $CAH Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. bought a new position in Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,085 shares of the company’s stock, valued at approximately $1,445,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS boosted its position in shares of Cardinal Health by 100.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock valued at $3,733,000 after purchasing an additional 9,120 shares in the last quarter. Abacus FCF Advisors LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $7,182,000. Byrne Financial Freedom LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $1,574,000. Belleair Asset Management LLC acquired a new stake in Cardinal Health during the fourth quarter valued at approximately $1,100,000. Finally, Axecap Investments LLC acquired a new stake in Cardinal Health during the fourth quarter valued at approximately $2,371,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

Shares of CAH opened at $234.73 on Thursday. The company has a 50-day moving average of $231.76 and a two-hundred day moving average of $217.68. The stock has a market cap of $54.59 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.26 and a beta of 0.49. Cardinal Health, Inc. has a one year low of $145.87 and a one year 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 (EPS) 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 business had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The firm’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. Analysts anticipate that Cardinal Health, Inc. will post 12.54 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued 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 is presently 28.49%.

Analysts Set New Price Targets

Several research firms have issued reports on CAH. William Blair initiated coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Royal Bank Of Canada began coverage on Cardinal Health in a research report on Wednesday. They set an “outperform” rating and a $276.00 price objective for the company. Morgan Stanley raised their price objective on Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Robert W. Baird lifted their target price on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, Evercore reaffirmed an “outperform” rating and set a $270.00 target price on shares of Cardinal Health in a research report on Wednesday, August 12th. Sixteen investment 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

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.