Chase Investment Counsel Corp Makes New $849,000 Investment in Cardinal Health, Inc. $CAH

Chase Investment Counsel Corp acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,578 shares of the company’s stock, valued at approximately $849,000.

A number of other institutional investors have also recently made changes to their positions in CAH. Integrated Wealth Concepts LLC grew 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 valued at $601,000 after buying an additional 280 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Cardinal Health by 198.3% during the 1st 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 2nd quarter worth approximately $1,935,000. Cerity Partners LLC boosted its position in shares of Cardinal Health by 17.0% during the 2nd quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock valued at $6,792,000 after acquiring an additional 5,880 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its position in shares of Cardinal Health by 34.4% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Morgan Stanley upped their price target on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Mizuho lifted their price objective on shares of Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $265.93.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $234.92 on Monday. The stock has a market cap of $54.64 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49. The stock has a 50 day moving average price of $230.30 and a 200-day moving average price of $217.19. 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 for the quarter, beating the consensus estimate of $2.42 by $0.49. The company had revenue of $63.67 billion for 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 quarter in the prior year, the firm posted $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Sell-side analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

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

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.