1ST Source Bank Buys New Holdings in Cardinal Health, Inc. $CAH

Key Points

• 1ST Source Bank acquired 4,989 Cardinal Health shares in the second quarter, valued at approximately $1.19 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly positive, with 15 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $265.93.
• Cardinal Health reported quarterly EPS of $2.91, beating estimates by $0.49, while revenue rose 5.8% year over year to $63.67 billion. The company also declared a quarterly dividend of $0.5158 per share, yielding about 0.9% annually.

1ST Source Bank purchased a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,989 shares of the company's stock, valued at approximately $1,185,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Cardinal Health by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company's stock valued at $6,461,179,000 after buying an additional 617,775 shares during the last quarter. State Street Corp boosted its position in shares of Cardinal Health by 1.8% during the 4th quarter. State Street Corp now owns 12,509,230 shares of the company's stock worth $2,570,647,000 after acquiring an additional 221,497 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Cardinal Health by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company's stock worth $1,336,750,000 after acquiring an additional 43,924 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock valued at $911,010,000 after acquiring an additional 3,511,579 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Cardinal Health in the 4th quarter valued at about $790,344,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAH has been the subject of several recent analyst reports. Leerink Partners set a $292.00 target price on Cardinal Health in a research note on Tuesday, August 11th. Bank of America raised their price objective on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Weiss Ratings upgraded shares of Cardinal Health from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 4th. Finally, Zacks Research downgraded shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. 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, the company has an average rating of "Moderate Buy" and an average target price of $265.93.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $234.92 on Monday. Cardinal Health, Inc. has a 1-year low of $145.87 and a 1-year high of $258.30. The stock has a market cap of $54.64 billion, a P/E ratio of 32.49, a P/E/G ratio of 1.26 and a beta of 0.49. The firm has a fifty day moving average price of $230.30 and a 200 day moving average price of $217.19.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.42 by $0.49. The business had revenue of $63.67 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Sell-side analysts expect that Cardinal Health, Inc. will post 12.55 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 given a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health's dividend payout ratio (DPR) is 28.49%.

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.

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