First National Bank of Omaha Acquires Shares of 4,464 Cardinal Health, Inc. $CAH

First National Bank of Omaha acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the second quarter, Holdings Channel reports. The fund acquired 4,464 shares of the company’s stock, valued at approximately $1,054,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kornitzer Capital Management Inc. KS raised its holdings in Cardinal Health by 100.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock worth $3,733,000 after purchasing an additional 9,120 shares in the last quarter. Abacus FCF Advisors LLC purchased a new stake in Cardinal Health in the 4th quarter valued at approximately $7,182,000. Byrne Financial Freedom LLC purchased a new stake in Cardinal Health in the 4th quarter valued at approximately $1,574,000. Belleair Asset Management LLC acquired a new position in Cardinal Health during the 4th quarter worth approximately $1,100,000. Finally, Axecap Investments LLC purchased a new position in shares of Cardinal Health during the 4th quarter worth approximately $2,371,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America raised their price target on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Morgan Stanley upped their price objective on Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. William Blair initiated coverage on Cardinal Health in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. UBS Group boosted their target price on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company upped their price target on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $266.56.

Cardinal Health Price Performance

CAH opened at $234.73 on Thursday. The stock has a market cap of $54.59 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.26 and a beta of 0.49. The stock’s 50 day simple moving average is $231.76 and its 200 day simple moving average is $217.68. Cardinal Health, Inc. has a 1-year low of $145.87 and a 1-year high of $258.30.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping 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 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 period in the previous year, the firm posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Research analysts expect that Cardinal Health, Inc. will post 12.54 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s 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.