JPMorgan Chase & Co. lowered its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 6.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,630,803 shares of the company’s stock after selling 167,935 shares during the period. JPMorgan Chase & Co.’s holdings in Cardinal Health were worth $540,630,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the company. Aventura Private Wealth LLC bought a new stake in Cardinal Health in the 4th quarter worth about $25,000. Jones Financial Companies Lllp lifted its position in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares in the last quarter. Palladiem LLC bought a new position in shares of Cardinal Health during the 4th quarter worth approximately $28,000. JPL Wealth Management LLC purchased a new position in shares of Cardinal Health in the 3rd quarter worth approximately $31,000. Finally, Turning Point Benefit Group Inc. bought a new position in shares of Cardinal Health in the third quarter valued at approximately $31,000. 87.17% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts recently commented on CAH shares. JPMorgan Chase & Co. decreased their price target on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Morgan Stanley upped their price objective on Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Wells Fargo & Company decreased their target price on Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Weiss Ratings cut Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Finally, William Blair started coverage on shares of Cardinal Health in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $246.93.
Cardinal Health Trading Up 1.5%
Cardinal Health stock opened at $215.77 on Thursday. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $233.60. The business’s 50 day simple moving average is $202.77 and its 200 day simple moving average is $208.66. The company has a market cap of $50.54 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 1.16 and a beta of 0.52.
Cardinal Health (NYSE:CAH – Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. The business had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business posted $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.
Cardinal Health Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a $0.5158 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.06 annualized dividend and a yield of 1.0%. Cardinal Health’s payout ratio is 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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