Plato Investment Management Ltd Purchases Shares of 8,185 Cardinal Health, Inc. $CAH

Plato Investment Management Ltd purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,185 shares of the company’s stock, valued at approximately $1,933,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investors Research Corp bought a new position in shares of Cardinal Health during the 2nd quarter valued at about $29,000. University of Texas Texas AM Investment Management Co. bought a new stake in Cardinal Health in the 4th quarter worth approximately $26,000. Allied Private Wealth LLC purchased a new stake in Cardinal Health in the second quarter worth approximately $30,000. Bank of Jackson Hole Trust purchased a new stake in Cardinal Health in the fourth quarter worth approximately $27,000. Finally, Indiana Trust & Investment Management Co bought a new position in Cardinal Health during the first quarter valued at approximately $29,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CAH. Citigroup boosted their price objective on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Barclays increased their target price on shares of Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America lifted their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Wells Fargo & Company boosted their price target on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Finally, TD Cowen upped their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $265.93.

Cardinal Health Stock Up 0.2%

NYSE:CAH opened at $235.68 on Tuesday. The firm has a market capitalization of $54.81 billion, a P/E ratio of 32.60, a P/E/G ratio of 1.26 and a beta of 0.49. The company has a fifty day moving average of $230.93 and a 200 day moving average of $217.34. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping 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 last year, the firm earned $2.08 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a $0.5158 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is presently 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.