ABN AMRO Bank N.V. Buys New Stake in Cardinal Health, Inc. $CAH

Key Points

• ABN AMRO Bank acquired 14,130 shares of Cardinal Health during the second quarter, valued at approximately $3.34 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly positive, with 15 Buy ratings and three Holds. Cardinal Health has a “Moderate Buy” consensus rating 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, representing an annualized yield of about 0.9%.

ABN AMRO Bank N.V. purchased a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 14,130 shares of the company's stock, valued at approximately $3,342,000.

Several other hedge funds have also bought and sold shares of CAH. LWM Advisors Inc. boosted its stake in Cardinal Health by 4.4% during the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company's stock valued at $244,000 after buying an additional 43 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in shares of Cardinal Health by 1.2% during the 1st quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company's stock worth $896,000 after acquiring an additional 49 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of Cardinal Health by 0.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company's stock worth $1,184,000 after acquiring an additional 50 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Cardinal Health by 2.6% during the 1st quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company's stock valued at $423,000 after acquiring an additional 50 shares during the last quarter. Finally, Generali Asset Management SPA SGR boosted its position in shares of Cardinal Health by 11.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 513 shares of the company's stock valued at $105,000 after acquiring an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

CAH has been the topic of several research reports. Citigroup boosted their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday. Mizuho upped their target price on shares of Cardinal Health from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday. Leerink Partners set a $292.00 price target on shares of Cardinal Health in a report on Tuesday. Evercore reiterated an "outperform" rating and issued a $270.00 price target on shares of Cardinal Health in a research report on Wednesday. Finally, Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 4th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average price target of $265.93.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $234.92 on Friday. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30. The firm has a 50-day simple moving average of $230.30 and a two-hundred day simple moving average of $217.14. The company has a market cap of $54.64 billion, a P/E ratio of 32.49, a PEG ratio of 1.39 and a beta of 0.49.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current 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 issued a $0.5158 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. Cardinal Health's payout ratio is presently 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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