Bleakley Financial Group LLC Invests $4.36 Million in Cardinal Health, Inc. $CAH

Key Points

• Bleakley Financial Group LLC opened a new position in Cardinal Health during the first quarter, buying 20,619 shares valued at about $4.36 million.
• Analyst sentiment remains positive overall: Cardinal Health has 15 Buy ratings and 3 Hold ratings, with a consensus Moderate Buy and average price target of $249.13.
• The company recently reported better-than-expected earnings of $3.17 per share and also raised its quarterly dividend to $0.5158, bringing the annualized yield to about 0.9%.

Bleakley Financial Group LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,619 shares of the company's stock, valued at approximately $4,357,000.

Other large investors also recently made changes to their positions in the company. Aventura Private Wealth LLC bought a new position in shares of Cardinal Health during the fourth quarter worth about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cardinal Health during the 4th quarter valued at $26,000. Jones Financial Companies Lllp lifted its position in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock valued at $27,000 after acquiring an additional 14,034 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in shares of Cardinal Health in the 4th quarter worth $27,000. Finally, Palladiem LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth $28,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CAH. Evercore decreased their price target on Cardinal Health from $260.00 to $240.00 and set an "outperform" rating for the company in a research report on Wednesday, April 8th. TD Cowen upped their price objective on shares of Cardinal Health from $255.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Wells Fargo & Company decreased their target price on shares of Cardinal Health from $256.00 to $245.00 and set an "overweight" rating for the company in a report on Friday, May 1st. Citigroup reissued a "buy" rating on shares of Cardinal Health in a research report on Thursday, July 2nd. Finally, William Blair started coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They issued an "outperform" rating for the company. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus price target of $249.13.

Cardinal Health Stock Performance

CAH opened at $224.75 on Thursday. The company has a market cap of $52.64 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 1.13 and a beta of 0.49. The stock has a 50-day moving average of $214.48 and a 200-day moving average of $213.51. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $243.21.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, topping analysts' consensus estimates of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The firm had revenue of $60.94 billion during the quarter, compared to analyst estimates of $62.10 billion. During the same quarter in the previous year, the business earned $2.35 EPS. The business's revenue 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, research analysts predict that Cardinal Health, Inc. will post 10.77 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.5158 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is currently 31.50%.

About Cardinal Health

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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