Atomi Financial Group Inc. Acquires 2,018 Shares in Cardinal Health, Inc. (NYSE:CAH)

2 min read | January 27, 2025 01:06 AM PST | By Team Kalkine Media

Atomi Financial Group Inc. Acquires 2,018 Shares in Cardinal Health, Inc. (NYSE:CAH) — Image source: Shutterstock

Institutional Investments

During the fourth quarter, several institutional investors augmented their stakes in Cardinal Health, Inc. (NYSE:CAH) as disclosed in their filings with the SEC. Notably, Atomi Financial Group Inc. acquired a new stake consisting of 2,018 shares valued at approximately $239,000. This move is part of a wider trend where institutional investments in Cardinal Health have been on the rise.

State Street Corp increased its holdings by 4.6% in the third quarter, holding 14,177,641 shares valued at $1,566,913,000 after an acquisition of 627,253 additional shares. Similarly, Geode Capital Management LLC marginally raised its position by 0.7%, owning 5,749,859 shares worth $633,298,000. Other significant holders such as Pacer Advisors Inc. and Charles Schwab Investment Management Inc. also expanded their investments.

Financial Performance

Cardinal Health has demonstrated strong financial performance, releasing impressive quarterly earnings results on November 1st. The company achieved a remarkable $1.88 EPS, exceeding the consensus estimate of $1.62 by $0.26. Furthermore, it reported a robust revenue of $52.28 billion, surpassing analysts' projections.

The company operates with a significant market cap of $31.19 billion and a P/E ratio of 25.08, with its stock trading close to its 12-month high of $129.68. Despite a downtrend in revenue by 4.3% year-over-year, the consistent posting of $1.73 earnings per share last year indicates a resilient business model and strategy.

Dividends and Market Reactions

In addition to strong earnings, Cardinal Health has been distributing dividends, enhancing investor appeal. The company paid a quarterly dividend of $0.5056, translating to an annualized dividend yield of 1.57%.

Overall, Cardinal Health continues to maintain its position as a prominent entity in the healthcare services sector, leveraging its international presence and consistent performance to attract and retain substantial institutional backing.

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