Brown Advisory Inc. lessened its holdings in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 8.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 216,826 shares of the company’s stock after selling 18,917 shares during the quarter. Brown Advisory Inc.’s holdings in Cardinal Health were worth $44,558,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Cardinal Health by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after buying an additional 617,775 shares in the last quarter. State Street Corp increased its stake in Cardinal Health by 1.8% during the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock worth $2,570,647,000 after buying an additional 221,497 shares in the last quarter. Geode Capital Management LLC increased its stake in Cardinal Health by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock worth $1,336,750,000 after buying an additional 43,924 shares in the last quarter. Wellington Management Group LLP increased its stake in Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after buying an additional 3,511,579 shares in the last quarter. Finally, Norges Bank purchased a new stake in Cardinal Health during the 4th quarter worth approximately $790,344,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. TD Cowen boosted their price objective on Cardinal Health from $251.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Robert W. Baird set a $248.00 price target on Cardinal Health in a research report on Friday, May 1st. Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lowered their price objective 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. Finally, William Blair assumed coverage on Cardinal Health in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $246.93.
Cardinal Health Stock Up 1.2%
NYSE:CAH opened at $226.52 on Tuesday. The stock’s fifty day moving average is $203.46 and its two-hundred day moving average is $208.92. Cardinal Health, Inc. has a 52 week low of $137.75 and a 52 week high of $233.60. The stock has a market capitalization of $53.05 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 1.22 and a beta of 0.52.
Cardinal Health (NYSE:CAH – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative return on equity of 92.61% and a net margin of 0.62%.The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, sell-side 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. Shareholders of record on Wednesday, July 1st will be paid a $0.5158 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, July 1st. 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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