Chase Investment Counsel Corp Takes $849,000 Position in Cardinal Health, Inc. $CAH

Chase Investment Counsel Corp acquired a new position in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,578 shares of the company’s stock, valued at approximately $849,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAH. University of Texas Texas AM Investment Management Co. bought a new stake in Cardinal Health during the fourth quarter valued at approximately $26,000. Bank of Jackson Hole Trust bought a new position in Cardinal Health in the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp boosted its stake in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the last quarter. Palladiem LLC purchased a new position in shares of Cardinal Health during the 4th quarter worth $28,000. Finally, Indiana Trust & Investment Management Co bought a new stake in shares of Cardinal Health during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 0.1%

NYSE CAH opened at $234.92 on Monday. Cardinal Health, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30. The business has a 50-day moving average price of $230.30 and a 200-day moving average price of $217.19. The firm has a market cap of $54.64 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last issued its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same quarter last year, the company earned $2.08 EPS. The firm’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. 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 disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. 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 dividend payout ratio (DPR) is 28.49%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CAH shares. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley lifted their target price on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group boosted their price target on Cardinal Health from $274.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America upped their price target on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Robert W. Baird raised their price objective on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $265.93.

Cardinal Health 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.