Danske Bank A S Takes $36.11 Million Position in Cardinal Health, Inc. $CAH

Danske Bank A S purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 152,022 shares of the company’s stock, valued at approximately $36,114,000. Danske Bank A S owned about 0.06% of Cardinal Health as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cardinal Health in the fourth quarter worth approximately $26,000. Bank of Jackson Hole Trust purchased a new position in shares of Cardinal Health during the fourth quarter valued at about $27,000. Jones Financial Companies Lllp raised its position in shares of Cardinal Health by 198.3% in 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 in the last quarter. Palladiem LLC bought a new position in Cardinal Health in the fourth quarter worth $28,000. Finally, Indiana Trust & Investment Management Co bought a new position in shares of Cardinal Health in the 1st quarter worth about $29,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CAH shares. Royal Bank Of Canada started coverage on Cardinal Health in a research note on Wednesday. They set an “outperform” rating and a $276.00 price objective for the company. Robert W. Baird raised their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Zacks Research cut Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Morgan Stanley boosted their price objective on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, William Blair initiated coverage on Cardinal Health in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.56.

Cardinal Health Trading Down 0.1%

Shares of CAH stock opened at $234.73 on Thursday. The stock has a market capitalization of $54.59 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49. Cardinal Health, Inc. has a 12-month low of $145.87 and a 12-month high of $258.30. The stock’s 50-day moving average price is $231.76 and its 200-day moving average price is $217.68.

Cardinal Health (NYSE:CAH) last posted 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 during the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the prior year, the company earned $2.08 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, research analysts predict that Cardinal Health, Inc. will post 12.54 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. Stockholders of record on Thursday, October 1st will be paid a $0.5158 dividend. 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 dividend payout ratio (DPR) is presently 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.