Westmount Partners LLC Invests $494,000 in Cardinal Health, Inc. $CAH

Westmount Partners LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,338 shares of the company’s stock, valued at approximately $494,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Nordea Investment Management AB raised its holdings in shares of Cardinal Health by 328.3% during the fourth quarter. Nordea Investment Management AB now owns 645,436 shares of the company’s stock worth $133,741,000 after purchasing an additional 494,731 shares during the period. Victory Capital Management Inc. lifted its position in shares of Cardinal Health by 44.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock worth $352,165,000 after buying an additional 707,495 shares during the last quarter. Procyon Advisors LLC boosted its holdings in shares of Cardinal Health by 78.7% in the 4th quarter. Procyon Advisors LLC now owns 17,025 shares of the company’s stock valued at $3,499,000 after buying an additional 7,499 shares during the period. Sierra Summit Advisors LLC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at about $9,897,000. Finally, Kornitzer Capital Management Inc. KS grew its position in shares of Cardinal Health by 100.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock valued at $3,733,000 after buying an additional 9,120 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. decreased their target price on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Robert W. Baird set a $248.00 price target on Cardinal Health in a research report on Friday, May 1st. Finally, Barclays raised their price target on Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $246.93.

Cardinal Health Price Performance

Shares of CAH stock opened at $222.08 on Friday. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $233.60. The firm has a market capitalization of $52.01 billion, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 1.21 and a beta of 0.52. The business has a 50 day simple moving average of $204.34 and a 200 day simple moving average of $209.27.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, beating 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 quarter 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. On average, equities analysts anticipate that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.5158 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 31.19%.

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.