OneDigital Investment Advisors LLC Takes $590,000 Position in Cardinal Health, Inc. $CAH

OneDigital Investment Advisors LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) in the second quarter, HoldingsChannel.com reports. The fund bought 2,484 shares of the company’s stock, valued at approximately $590,000.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in Cardinal Health during the fourth quarter valued at $790,344,000. Wellington Management Group LLP increased its holdings in shares of Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after buying an additional 3,511,579 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Cardinal Health in the 2nd quarter worth about $308,640,000. Marshall Wace LLP raised its position in shares of Cardinal Health by 1,328.1% during the 4th quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock valued at $195,484,000 after buying an additional 884,648 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Cardinal Health by 7,053.4% during the 1st quarter. Bessemer Group Inc. now owns 750,038 shares of the company’s stock valued at $158,491,000 after buying an additional 739,553 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CAH. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Bank of America raised their price objective on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. TD Cowen lifted their target price on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Barclays boosted their target price on Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Finally, Morgan Stanley raised their price target on Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $265.93.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $234.85 on Wednesday. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30. The firm has a 50-day simple moving average of $231.38 and a two-hundred day simple moving average of $217.51. The company has a market cap of $54.62 billion, a P/E ratio of 32.48, a PEG ratio of 1.26 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $63.67 billion for the quarter, compared to analysts’ expectations of $65.15 billion. During the same quarter in the prior year, the firm posted $2.08 earnings per share. The company’s quarterly 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. As a group, equities research analysts expect that Cardinal Health, Inc. will post 12.54 EPS for the current year.

Cardinal Health Announces Dividend

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

About Cardinal Health

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.