Independent Financial Group LLC Buys New Holdings in Cardinal Health, Inc. $CAH

Key Points

• Independent Financial Group LLC opened a new position in Cardinal Health during the first quarter, buying 4,973 shares valued at about $1.05 million.
• Cardinal Health reported better-than-expected quarterly EPS of $3.17 versus $2.79 estimates, while revenue rose 11% year over year to $60.94 billion, though it still came in below analyst revenue expectations.
• The company raised its quarterly dividend to $0.5158 per share, and analysts remain broadly positive with a Moderate Buy consensus and an average price target of $250.07.

Independent Financial Group LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,973 shares of the company's stock, valued at approximately $1,051,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its holdings in Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company's stock valued at $601,000 after buying an additional 280 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock worth $27,000 after acquiring an additional 14,034 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Cardinal Health in the 2nd quarter worth $1,935,000. Cerity Partners LLC increased its position in shares of Cardinal Health by 17.0% in the second quarter. Cerity Partners LLC now owns 40,426 shares of the company's stock valued at $6,792,000 after acquiring an additional 5,880 shares during the period. Finally, Nebula Research & Development LLC increased its position in shares of Cardinal Health by 34.4% in the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company's stock valued at $1,736,000 after acquiring an additional 2,646 shares during the period. Institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

NYSE:CAH opened at $225.76 on Tuesday. The firm's 50-day moving average price is $217.11 and its 200-day moving average price is $213.94. The company has a market capitalization of $52.88 billion, a PE ratio of 34.52, a P/E/G ratio of 1.12 and a beta of 0.49. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $243.21.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping the consensus estimate 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 business had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Cardinal Health's quarterly 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. Equities analysts anticipate that Cardinal Health, Inc. will post 10.77 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.5158 per share. The ex-dividend date was Wednesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health's dividend payout ratio is 31.50%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. TD Cowen increased their target price on shares of Cardinal Health from $255.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Bank of America upped their price target on Cardinal Health from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Evercore dropped their price objective on Cardinal Health from $260.00 to $240.00 and set an "outperform" rating for the company in a report on Wednesday, April 8th. Wells Fargo & Company cut their price objective on Cardinal Health from $256.00 to $245.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 4th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $250.07.

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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