Plato Investment Management Ltd Acquires New Stake in Cardinal Health, Inc. $CAH

Plato Investment Management Ltd bought a new position in Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,185 shares of the company’s stock, valued at approximately $1,933,000.

Several other hedge funds have also recently made changes to their positions in CAH. Integrated Wealth Concepts LLC raised its stake in Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after acquiring an additional 280 shares during the period. Jones Financial Companies Lllp boosted its position in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Cardinal Health in the second quarter worth about $1,935,000. Cerity Partners LLC increased its stake 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 worth $6,792,000 after purchasing an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC raised 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 purchasing an additional 2,646 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Up 0.2%

NYSE:CAH opened at $235.68 on Tuesday. The stock has a market cap of $54.81 billion, a P/E ratio of 32.60, a PEG ratio of 1.26 and a beta of 0.49. The business’s 50-day moving average price is $230.93 and its two-hundred day moving average price is $217.34. Cardinal Health, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.42 by $0.49. The company had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.Cardinal Health’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities research analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s payout ratio is currently 28.49%.

Analysts Set New Price Targets

CAH has been the topic of a number of recent research reports. UBS Group upped their price target on shares of Cardinal Health from $274.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Citigroup boosted their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Evercore reaffirmed an “outperform” rating and issued a $270.00 price target on shares of Cardinal Health in a report on Wednesday, August 12th. Finally, Mizuho lifted their price target on Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $265.93.

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.