Wealthfront Advisers LLC Makes New $13.99 Million Investment in Cardinal Health, Inc. $CAH

Key Points

• Wealthfront Advisers acquired 58,873 Cardinal Health shares worth approximately $13.99 million in the second quarter. Institutional investors collectively own 87.17% of the company.
• Analyst sentiment remains positive, with 16 Buy ratings and three Holds. The stock has an average “Moderate Buy” rating and an average price target of $266.56.
• Cardinal Health reported quarterly EPS of $2.91, surpassing estimates of $2.42, while revenue increased 5.8% year over year to $63.67 billion. The company also declared a quarterly dividend of $0.5158 per share.

Wealthfront Advisers LLC acquired a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 58,873 shares of the company's stock, valued at approximately $13,986,000.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Cardinal Health in the second quarter worth $6,293,115,000. Norges Bank bought a new position in shares of Cardinal Health during the fourth quarter valued at about $790,344,000. Wellington Management Group LLP grew its stake in shares of Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock valued at $911,010,000 after buying an additional 3,511,579 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Cardinal Health in the second quarter worth about $308,640,000. Finally, Deutsche Bank AG purchased a new position in shares of Cardinal Health in the second quarter worth about $238,933,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

CAH has been the subject of several analyst reports. Barclays increased their target price on Cardinal Health from $258.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Wells Fargo & Company lifted their price target on Cardinal Health from $245.00 to $277.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. William Blair assumed coverage on Cardinal Health in a research report on Tuesday, April 28th. They issued an "outperform" rating for the company. UBS Group increased their price objective on Cardinal Health from $274.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, TD Cowen raised their target price on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Sixteen 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, the company presently has an average rating of "Moderate Buy" and an average target price of $266.56.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $234.85 on Wednesday. The stock's 50-day moving average is $231.38 and its 200 day moving average is $217.51. The company has a market cap of $54.62 billion, a PE ratio of 32.48, a P/E/G ratio of 1.26 and a beta of 0.49. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data 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 business had revenue of $63.67 billion during the quarter, compared to analysts' expectations of $65.15 billion. During the same quarter last year, the business posted $2.08 EPS. The business's revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Analysts expect that Cardinal Health, Inc. will post 12.54 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders 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 annualized dividend and a yield of 0.9%. Cardinal Health's dividend payout ratio is 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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