Allstate Corp Acquires 9,203 Shares of Cardinal Health, Inc. $CAH

Allstate Corp raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 107.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 17,731 shares of the company’s stock after buying an additional 9,203 shares during the period. Allstate Corp’s holdings in Cardinal Health were worth $3,644,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Strategy Asset Managers LLC purchased a new position in Cardinal Health during the 3rd quarter worth $775,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Cardinal Health by 15.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock valued at $5,938,000 after purchasing an additional 5,030 shares during the period. Versor Investments LP purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at $2,090,000. Machina Capital S.A.S. increased its position in shares of Cardinal Health by 248.0% during the 3rd quarter. Machina Capital S.A.S. now owns 27,054 shares of the company’s stock valued at $4,246,000 after purchasing an additional 19,280 shares during the last quarter. Finally, Atle Fund Management AB raised its stake in shares of Cardinal Health by 13.1% during the 3rd quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock worth $4,755,000 after purchasing an additional 3,500 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on CAH shares. Mizuho increased their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. decreased their price objective on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Robert W. Baird set a $248.00 price objective on shares of Cardinal Health in a report on Friday, May 1st. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Morgan Stanley raised their price objective on shares of Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $241.80.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $199.92 on Thursday. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $233.60. The stock’s 50-day simple moving average is $204.15 and its 200 day simple moving average is $208.90. The stock has a market capitalization of $46.82 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.19 and a beta of 0.53.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $62.10 billion. During the same period in the previous year, the business posted $2.35 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Equities research analysts forecast that Cardinal Health, Inc. will post 10.76 EPS 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 paid a $0.5158 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 dividend on an annualized basis and a yield of 1.0%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 31.19%.

About Cardinal Health

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.