Bleakley Financial Group LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) during the 1st quarter, Holdings Channel reports. The fund purchased 20,619 shares of the company’s stock, valued at approximately $4,357,000.
Several other hedge funds also recently modified their holdings of CAH. Nordea Investment Management AB increased its stake in Cardinal Health by 328.3% in the fourth quarter. Nordea Investment Management AB now owns 645,436 shares of the company’s stock valued at $133,741,000 after acquiring an additional 494,731 shares during the last quarter. Procyon Advisors LLC grew its stake in shares of Cardinal Health by 78.7% during the fourth quarter. Procyon Advisors LLC now owns 17,025 shares of the company’s stock worth $3,499,000 after buying an additional 7,499 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in shares of Cardinal Health by 100.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock worth $3,733,000 after buying an additional 9,120 shares in the last quarter. Swiss Life Asset Management Ltd lifted its stake in shares of Cardinal Health by 73.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 76,736 shares of the company’s stock valued at $12,044,000 after acquiring an additional 32,464 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its holdings in shares of Cardinal Health by 4.3% during the 3rd quarter. Achmea Investment Management B.V. now owns 203,341 shares of the company’s stock valued at $31,917,000 after acquiring an additional 8,381 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.
Wall Street Analysts Forecast Growth
CAH has been the subject of several research reports. Citigroup reiterated a “buy” rating on shares of Cardinal Health in a research report on Thursday, July 2nd. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Robert W. Baird set a $248.00 price target on shares of Cardinal Health in a research note on Friday, May 1st. TD Cowen raised their price objective on Cardinal Health from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Evercore reduced their target price on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.13.
Cardinal Health Trading Down 2.3%
Shares of CAH stock opened at $224.75 on Thursday. The firm has a market capitalization of $52.64 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 1.13 and a beta of 0.49. The firm has a fifty day simple moving average of $214.48 and a two-hundred day simple moving average of $213.51. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $243.21.
Cardinal Health (NYSE:CAH – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $62.10 billion. During the same period last year, the business earned $2.35 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, equities analysts predict that Cardinal Health, Inc. will post 10.77 earnings per share for the current fiscal year.
Cardinal Health Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.5158 per share. The ex-dividend date of this dividend was Wednesday, July 1st. 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. Cardinal Health’s payout ratio is currently 31.50%.
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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