Meeder Advisory Services Inc. Invests $1.45 Million in Cardinal Health, Inc. $CAH

Meeder Advisory Services Inc. purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 6,085 shares of the company’s stock, valued at approximately $1,445,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAH. Integrated Wealth Concepts LLC raised its holdings in shares of Cardinal Health by 6.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after acquiring an additional 280 shares in the last quarter. Jones Financial Companies Lllp increased its position in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Cardinal Health during the 2nd quarter worth about $1,935,000. Cerity Partners LLC lifted its holdings 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 buying an additional 5,880 shares during the last quarter. Finally, Nebula Research & Development LLC grew its stake in shares of Cardinal Health by 34.4% in the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock valued at $1,736,000 after buying an additional 2,646 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank Of Canada began coverage on Cardinal Health in a report on Wednesday. They issued an “outperform” rating and a $276.00 price objective on the stock. Evercore reiterated an “outperform” rating and issued a $270.00 target price on shares of Cardinal Health in a research note on Wednesday, August 12th. Citigroup boosted their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Mizuho increased their price target on shares of Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, August 5th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Stock Performance

Shares of CAH stock opened at $234.73 on Thursday. The stock’s 50 day simple moving average is $231.76 and its 200 day simple moving average is $217.68. Cardinal Health, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30. The company has a market capitalization 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 (NYSE:CAH) last announced its 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 negative return on equity of 98.53% and a net margin of 0.67%.The firm had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. 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. On average, analysts forecast that Cardinal Health, Inc. will post 12.54 EPS 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. Investors of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio is currently 28.49%.

About Cardinal Health

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.