Cardinal Health, Inc. $CAH Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,393,799 shares of the company’s stock after selling 47,099 shares during the quarter. Bank of New York Mellon Corp owned 0.59% of Cardinal Health worth $286,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kesler Norman & Wride LLC purchased a new position in shares of Cardinal Health during the 4th quarter worth approximately $1,007,000. Calton & Associates Inc. purchased a new position in shares of Cardinal Health during the 4th quarter worth approximately $252,000. Natixis Advisors LLC increased its stake in shares of Cardinal Health by 19.6% during the 4th quarter. Natixis Advisors LLC now owns 521,251 shares of the company’s stock worth $107,117,000 after purchasing an additional 85,590 shares in the last quarter. Beaton Management Co. Inc. purchased a new position in shares of Cardinal Health during the 4th quarter worth approximately $225,000. Finally, Crestmont Private Wealth LLC purchased a new position in shares of Cardinal Health during the 4th quarter worth approximately $264,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

CAH opened at $201.68 on Friday. The company’s 50 day simple moving average is $202.64 and its 200 day simple moving average is $208.59. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $233.60. The stock has a market capitalization of $47.24 billion, a PE ratio of 30.84, a P/E/G ratio of 1.07 and a beta of 0.52.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.38. The company had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. Cardinal Health’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business earned $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 31.19%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. 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 research note on Tuesday, April 28th. Wells Fargo & Company dropped their price objective on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Robert W. Baird set a $248.00 price objective on shares of Cardinal Health in a research note on Friday, May 1st. William Blair assumed coverage on shares of Cardinal Health in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Finally, Barclays raised their price objective on shares of Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. One investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $241.80.

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.