Park National Corp OH Acquires 4,476 Shares of Cardinal Health, Inc. $CAH

Park National Corp OH increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,560 shares of the company’s stock after purchasing an additional 4,476 shares during the period. Park National Corp OH’s holdings in Cardinal Health were worth $12,163,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC acquired a new position in shares of Cardinal Health in the 4th quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Cardinal Health in the 4th quarter valued at $26,000. Bank of Jackson Hole Trust acquired a new stake in Cardinal Health in the 4th quarter valued at $27,000. Palladiem LLC bought a new stake in Cardinal Health in the fourth quarter valued at $28,000. Finally, Elyxium Wealth LLC bought a new stake in Cardinal Health in the fourth quarter valued at $34,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. TD Cowen lifted their price objective on Cardinal Health from $251.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 1st. Wells Fargo & Company lowered their target price on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Zacks Research cut shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. JPMorgan Chase & Co. cut their price target on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Finally, Barclays boosted their price target on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. Fourteen 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 currently has an average rating of “Moderate Buy” and an average price target of $246.93.

Cardinal Health Stock Performance

Shares of CAH opened at $222.08 on Friday. The company has a market cap of $52.01 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 1.21 and a beta of 0.52. The stock has a fifty day moving average price of $204.34 and a two-hundred day moving average price of $209.27. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $233.60.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, April 30th. The company reported $3.17 EPS 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 company had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. During the same quarter in the prior year, the business earned $2.35 earnings per share. The business’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 predict that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.5158 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio is currently 31.19%.

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.