Persistent Asset Partners Ltd Takes Position in Cardinal Health, Inc. $CAH

Persistent Asset Partners Ltd purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,695 shares of the company’s stock, valued at approximately $1,170,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAH. Integrated Wealth Concepts LLC raised its position in Cardinal Health by 6.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after purchasing an additional 280 shares in the last quarter. Jones Financial Companies Lllp raised its position in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Cardinal Health during the second quarter valued at approximately $1,935,000. Cerity Partners LLC raised its position in Cardinal Health by 17.0% during the second quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock valued at $6,792,000 after purchasing an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC raised its position in Cardinal Health by 34.4% during the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock valued at $1,736,000 after purchasing an additional 2,646 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Evercore decreased their target price on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. William Blair began coverage on Cardinal Health in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. JPMorgan Chase & Co. lowered their target price on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. TD Cowen boosted their target price on Cardinal Health from $251.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Morgan Stanley boosted their target price on Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.93.

Cardinal Health Stock Performance

Shares of CAH opened at $227.63 on Wednesday. Cardinal Health, Inc. has a 52 week low of $137.75 and a 52 week high of $233.60. The stock has a market capitalization of $53.31 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 1.24 and a beta of 0.52. The stock has a fifty day moving average of $203.74 and a 200-day moving average of $209.02.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.38. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The company had revenue of $60.94 billion during the quarter, compared to analysts’ expectations of $62.10 billion. During the same period in the prior year, the company earned $2.35 EPS. Cardinal Health’s revenue was up 11.0% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities analysts forecast that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 31.19%.

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.