Orca Investment Management LLC Makes New $6.66 Million Investment in Cardinal Health, Inc. $CAH

Key Points

• Orca Investment Management initiated a $6.66 million Cardinal Health position, purchasing 28,053 shares; the stock now represents 4.8% of its portfolio.
• Analyst sentiment is favorable, with 15 Buy ratings and three Holds. Cardinal Health has a consensus “Moderate Buy” rating and an average price target of $265.93.
• Cardinal Health exceeded quarterly EPS expectations, reporting $2.91 versus $2.42 anticipated, while revenue rose 5.8% year over year. The company also declared a quarterly dividend of $0.5158 per share, representing an annualized yield of about 0.9%.

Orca Investment Management LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 28,053 shares of the company's stock, valued at approximately $6,664,000. Cardinal Health makes up 4.8% of Orca Investment Management LLC's investment portfolio, making the stock its 7th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of CAH. Vanguard Group Inc. grew its position in Cardinal Health by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company's stock valued at $6,461,179,000 after acquiring an additional 617,775 shares during the last quarter. State Street Corp boosted its stake in shares of Cardinal Health by 1.8% in the 4th quarter. State Street Corp now owns 12,509,230 shares of the company's stock valued at $2,570,647,000 after purchasing an additional 221,497 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cardinal Health by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company's stock valued at $1,336,750,000 after purchasing an additional 43,924 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Cardinal Health during the 4th quarter valued at approximately $790,344,000. Institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CAH shares. Bank of America increased their price objective on shares of Cardinal Health from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Robert W. Baird boosted their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an "outperform" rating in a research note on Wednesday. TD Cowen upped their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday. Weiss Ratings upgraded Cardinal Health from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 4th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $265.93.

Cardinal Health Price Performance

CAH opened at $234.92 on Friday. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30. The firm has a market capitalization of $54.64 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.39 and a beta of 0.49. The company's 50 day moving average price is $230.30 and its two-hundred day moving average price is $217.14.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion during the quarter, compared to analysts' expectations of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company's revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed 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. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health's dividend payout ratio is presently 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.

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source