Brookstone Capital Management Purchases 5,107 Shares of Cardinal Health, Inc. $CAH

Key Points

• Brookstone Capital Management increased its Cardinal Health stake by 59.5% in the first quarter, buying 5,107 additional shares and lifting its total position to 13,691 shares valued at about $2.89 million.
• Wall Street sentiment remains mostly positive, with 14 analysts rating CAH a Buy and three a Hold; the stock’s average price target is $246.93, according to MarketBeat.
• Cardinal Health reported stronger-than-expected earnings for the latest quarter, posting EPS of $3.17 versus estimates of $2.79, and it also raised its quarterly dividend to $0.5158 per share.

Brookstone Capital Management boosted its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 59.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,691 shares of the company's stock after purchasing an additional 5,107 shares during the quarter. Brookstone Capital Management's holdings in Cardinal Health were worth $2,893,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. raised its stake in shares of Cardinal Health by 0.5% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company's stock worth $1,902,000 after purchasing an additional 48 shares during the last quarter. HF Advisory Group LLC increased its position in shares of Cardinal Health by 0.9% during the 4th quarter. HF Advisory Group LLC now owns 5,227 shares of the company's stock valued at $1,074,000 after purchasing an additional 49 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Cardinal Health by 0.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company's stock worth $1,184,000 after buying an additional 50 shares during the last quarter. Generali Asset Management SPA SGR boosted its stake in Cardinal Health by 11.0% in the fourth 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. Finally, Stephens Inc. AR lifted its stake in Cardinal Health by 0.9% in the fourth quarter. Stephens Inc. AR now owns 5,951 shares of the company's stock valued at $1,223,000 after purchasing an additional 52 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on CAH. Zacks Research lowered shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Weiss Ratings lowered Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, May 19th. Evercore decreased their price target on shares of Cardinal Health from $260.00 to $240.00 and set an "outperform" rating on the stock in a report on Wednesday, April 8th. William Blair initiated coverage on Cardinal Health in a research note on Tuesday, April 28th. They set an "outperform" rating for the company. Finally, Leerink Partners reiterated an "outperform" rating and set a $275.00 price target on shares of Cardinal Health in a research report on Monday, March 9th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $246.93.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $233.61 on Thursday. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $235.71. The stock has a market capitalization of $54.71 billion, a P/E ratio of 35.72, a P/E/G ratio of 1.25 and a beta of 0.52. The company's 50-day moving average is $205.15 and its 200 day moving average is $209.86.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating analysts' consensus estimates of $2.79 by $0.38. The company had revenue of $60.94 billion during the quarter, compared to analysts' expectations of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Research analysts anticipate that Cardinal Health, Inc. will post 10.76 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.5158 per share. This is a positive change 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 of this dividend is Wednesday, July 1st. Cardinal Health's payout ratio is 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.

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