Abacus FCF Advisors LLC Makes New Investment in Cardinal Health, Inc. $CAH

Abacus FCF Advisors LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,694 shares of the company's stock, valued at approximately $4,916,000.

A number of other large investors have also made changes to their positions in the stock. Investors Research Corp bought a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $29,000. University of Texas Texas AM Investment Management Co. bought a new position in Cardinal Health in the fourth quarter worth $26,000. Allied Private Wealth LLC acquired a new stake in Cardinal Health during the second quarter worth $30,000. Bank of Jackson Hole Trust acquired a new stake in Cardinal Health during the fourth quarter worth $27,000. Finally, Indiana Trust & Investment Management Co acquired a new position in shares of Cardinal Health in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CAH shares. Bank of America lifted their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Royal Bank Of Canada assumed coverage on Cardinal Health in a research note on Wednesday. They issued an "outperform" rating and a $276.00 target price for the company. Evercore reissued an "outperform" rating and issued a $270.00 price target on shares of Cardinal Health in a report on Wednesday, August 12th. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Finally, TD Cowen increased their price objective on Cardinal Health from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and an average price target of $266.56.

Cardinal Health Stock Down 0.1%

CAH stock opened at $234.73 on Thursday. Cardinal Health, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30. The company has a market cap of $54.59 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49. The business's fifty day moving average is $231.76 and its 200-day moving average is $217.68.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 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 business had revenue of $63.67 billion during the quarter, compared to analysts' expectations of $65.15 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Research analysts anticipate that Cardinal Health, Inc. will post 12.54 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared 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 dividend yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health's dividend payout ratio (DPR) is currently 28.49%.

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.

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