Oppenheimer Asset Management Inc. Takes Position in Cardinal Health, Inc. $CAH

Oppenheimer Asset Management Inc. purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,244 shares of the company’s stock, valued at approximately $533,000.

A number of other institutional investors have also made changes to their positions in CAH. University of Texas Texas AM Investment Management Co. acquired a new position in Cardinal Health in the fourth quarter valued at about $26,000. Bank of Jackson Hole Trust bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $27,000. Jones Financial Companies Lllp increased its stake in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after acquiring an additional 14,034 shares during the last quarter. Palladiem LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $28,000. Finally, Indiana Trust & Investment Management Co bought a new position in Cardinal Health during the 1st quarter worth approximately $29,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAH has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Leerink Partners set a $292.00 price target on shares of Cardinal Health in a research report on Tuesday, August 11th. Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. TD Cowen upped their price objective on shares of Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Weiss Ratings raised Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, August 5th. 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $265.93.

Cardinal Health Stock Performance

NYSE CAH opened at $235.68 on Tuesday. The stock has a market cap of $54.81 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 1.26 and a beta of 0.49. The business has a 50 day simple moving average of $230.93 and a 200 day simple 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 for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. The firm had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio is presently 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.