Chase Investment Counsel Corp Buys Shares of 3,578 Cardinal Health, Inc. $CAH

Chase Investment Counsel Corp bought a new position in Cardinal Health, Inc. (NYSE:CAH) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 3,578 shares of the company’s stock, valued at approximately $756,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redhawk Wealth Advisors Inc. increased its stake in shares of Cardinal Health by 0.5% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock valued at $1,902,000 after buying an additional 48 shares during the period. HF Advisory Group LLC lifted its stake in Cardinal Health by 0.9% in the fourth quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock worth $1,074,000 after acquiring an additional 49 shares during the period. Kathmere Capital Management LLC lifted its stake in Cardinal Health by 1.2% in the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company’s stock worth $896,000 after acquiring an additional 49 shares during the period. Hillsdale Investment Management Inc. grew its holdings in Cardinal Health by 0.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock worth $1,184,000 after acquiring an additional 50 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in Cardinal Health by 2.6% during the 1st quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company’s stock worth $423,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of several recent research reports. Citigroup restated a “buy” rating on shares of Cardinal Health in a report on Thursday, July 2nd. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Evercore cut their price objective on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. TD Cowen boosted their price objective on shares of Cardinal Health from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley upped their target price on Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.07.

Cardinal Health Trading Up 0.5%

Shares of CAH opened at $226.98 on Wednesday. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $243.21. The stock has a fifty day moving average price of $218.00 and a 200-day moving average price of $214.09. The firm has a market cap of $53.16 billion, a PE ratio of 34.71, a P/E/G ratio of 1.11 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. During the same period in the previous year, the business earned $2.35 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, research analysts forecast that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.5158 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, July 1st. Cardinal Health’s dividend payout ratio is 31.50%.

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.