2,767 Shares in Cardinal Health, Inc. $CAH Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 2,767 shares of the company’s stock, valued at approximately $657,000.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Cardinal Health in the fourth quarter worth about $790,344,000. Wellington Management Group LLP raised its holdings 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 acquiring an additional 3,511,579 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Cardinal Health during the second quarter valued at approximately $308,640,000. Marshall Wace LLP lifted its position in shares of Cardinal Health by 1,328.1% in the 4th quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock valued at $195,484,000 after acquiring an additional 884,648 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Cardinal Health by 7,053.4% in the 1st quarter. Bessemer Group Inc. now owns 750,038 shares of the company’s stock valued at $158,491,000 after acquiring an additional 739,553 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $234.73 on Thursday. The business’s 50-day moving average price is $231.76 and its two-hundred day moving average price is $217.68. Cardinal Health, Inc. has a one year low of $145.87 and a one year high of $258.30. The company has a market capitalization of $54.59 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The company had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities analysts anticipate that Cardinal Health, Inc. will post 12.54 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s payout ratio is 28.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CAH shares. TD Cowen lifted their price objective on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Morgan Stanley increased their target price on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. William Blair started coverage on Cardinal Health in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. Citigroup lifted their price target on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Royal Bank Of Canada assumed coverage on Cardinal Health in a research report on Wednesday. They set an “outperform” rating and a $276.00 price target on the stock. Sixteen 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 currently has a consensus rating of “Moderate Buy” and an average price target of $266.56.

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.