Kovitz Investment Group Partners LLC reduced its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 42.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 136,024 shares of the company’s stock after selling 100,481 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Cardinal Health were worth $27,953,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Van Diest Capital LLC acquired a new position in Cardinal Health in the fourth quarter worth approximately $365,000. Compound Planning Inc. lifted its stake in Cardinal Health by 9.3% in the fourth quarter. Compound Planning Inc. now owns 2,613 shares of the company’s stock valued at $537,000 after acquiring an additional 222 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in Cardinal Health by 58.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 19,250 shares of the company’s stock valued at $3,956,000 after acquiring an additional 7,109 shares during the last quarter. Corient Private Wealth LLC grew its position in Cardinal Health by 5.9% in the fourth quarter. Corient Private Wealth LLC now owns 86,424 shares of the company’s stock worth $16,711,000 after acquiring an additional 4,831 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Cardinal Health in the fourth quarter worth approximately $5,446,000. 87.17% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CAH has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Cardinal Health from $251.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 1st. Robert W. Baird set a $248.00 target price on Cardinal Health in a report on Friday, May 1st. Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Monday. Evercore decreased their price target on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. Finally, William Blair assumed coverage on Cardinal Health in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $246.93.
Cardinal Health Price Performance
CAH stock opened at $222.08 on Friday. The stock has a market capitalization of $52.01 billion, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 1.24 and a beta of 0.52. The company has a 50-day moving average of $204.20 and a two-hundred day moving average of $209.18. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $233.60.
Cardinal Health (NYSE:CAH – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The business had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the previous year, the company posted $2.35 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Equities analysts expect that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.
Cardinal Health Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. Cardinal Health’s dividend 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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