Westpac Banking Corp trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 63.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,652 shares of the company’s stock after selling 4,666 shares during the quarter. Westpac Banking Corp’s holdings in Cardinal Health were worth $545,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Versor Investments LP acquired a new stake in shares of Cardinal Health during the third quarter worth about $2,090,000. Nordea Investment Management AB grew its stake in shares of Cardinal Health by 328.3% in the fourth quarter. Nordea Investment Management AB now owns 645,436 shares of the company’s stock worth $133,741,000 after acquiring an additional 494,731 shares in the last quarter. Candriam S.C.A. increased its position in shares of Cardinal Health by 10.8% during the third quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock worth $30,790,000 after acquiring an additional 19,155 shares during the period. Victory Capital Management Inc. raised its stake in shares of Cardinal Health by 44.9% in the third quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock valued at $352,165,000 after acquiring an additional 707,495 shares in the last quarter. Finally, Procyon Advisors LLC raised its stake in shares of Cardinal Health by 78.7% in the fourth quarter. Procyon Advisors LLC now owns 17,025 shares of the company’s stock valued at $3,499,000 after acquiring an additional 7,499 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on CAH. UBS Group set a $260.00 price target on Cardinal Health and gave the stock a “buy” rating in a report on Friday, February 6th. TD Cowen lifted their price objective on Cardinal Health from $251.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Barclays upped their target price on shares of Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Finally, Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $241.80.
Cardinal Health Stock Performance
CAH opened at $201.68 on Friday. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $233.60. The stock has a market capitalization of $47.24 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. The business’s 50-day simple moving average is $202.64 and its 200-day simple moving average is $208.59.
Cardinal Health (NYSE:CAH – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.38. The business had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, equities research analysts forecast that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.
Cardinal Health Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a $0.5158 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 annualized dividend and a yield of 1.0%. Cardinal Health’s payout ratio is presently 31.19%.
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.
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