CIBC Asset Management Inc Boosts Stock Position in Cardinal Health, Inc. $CAH

CIBC Asset Management Inc boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 64.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,318 shares of the company’s stock after acquiring an additional 22,419 shares during the quarter. CIBC Asset Management Inc’s holdings in Cardinal Health were worth $11,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Versor Investments LP purchased a new stake in shares of Cardinal Health during the third quarter valued at $2,090,000. Nordea Investment Management AB lifted its position in shares of Cardinal Health by 328.3% during the fourth quarter. Nordea Investment Management AB now owns 645,436 shares of the company’s stock valued at $133,741,000 after buying an additional 494,731 shares during the last quarter. Candriam S.C.A. lifted its position in shares of Cardinal Health by 10.8% during the third quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock valued at $30,790,000 after buying an additional 19,155 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Cardinal Health by 44.9% during the third quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock valued at $352,165,000 after acquiring an additional 707,495 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Cardinal Health by 66.7% during the third quarter. Public Sector Pension Investment Board now owns 30,007 shares of the company’s stock valued at $4,710,000 after acquiring an additional 12,003 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 2.0%

CAH stock opened at $205.79 on Friday. The business has a 50 day moving average price of $202.53 and a 200 day moving average price of $208.57. The stock has a market cap of $48.20 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 1.10 and a beta of 0.52. Cardinal Health, Inc. has a fifty-two week low of $137.75 and a fifty-two week high of $233.60.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.38. The firm had revenue of $60.94 billion during 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 firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed 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 an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 31.19%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Evercore decreased their target price on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. William Blair assumed coverage on Cardinal Health in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Barclays raised their price objective on Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Finally, UBS Group set a $260.00 target price on Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently 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.