Cardinal Health (NYSE:CAH) Sets New 12-Month High – What’s Next?

Cardinal Health, Inc. (NYSE:CAH)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $240.93 and last traded at $236.0250, with a volume of 1926579 shares trading hands. The stock had previously closed at $237.92.

Analysts Set New Price Targets

CAH has been the subject of a number of research reports. Weiss Ratings cut Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Morgan Stanley upped their price target on shares of Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Evercore lowered their price objective on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Finally, William Blair started coverage on shares of Cardinal Health in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $246.93.

Cardinal Health Stock Performance

The firm’s 50-day simple moving average is $206.52 and its 200 day simple moving average is $210.66. The stock has a market capitalization of $55.28 billion, a P/E ratio of 36.09, a PEG ratio of 1.30 and a beta of 0.52.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.38. The company 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%.Cardinal Health’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, research analysts expect that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.5158 per share. This is a positive change 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 dividend yield of 0.9%. Cardinal Health’s payout ratio is presently 31.19%.

Institutional Investors Weigh In On Cardinal Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Cardinal Health during the fourth quarter worth $790,344,000. Wellington Management Group LLP lifted its stake in Cardinal Health by 153.2% in the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after acquiring an additional 3,511,579 shares during the last quarter. Holocene Advisors LP grew its position in shares of Cardinal Health by 141.4% in the 3rd quarter. Holocene Advisors LP now owns 1,926,170 shares of the company’s stock valued at $302,332,000 after acquiring an additional 1,128,358 shares during the period. Marshall Wace LLP grew its position in shares of Cardinal Health by 1,328.1% in the 4th quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock valued at $195,484,000 after acquiring an additional 884,648 shares during the period. Finally, Barclays PLC increased its stake in shares of Cardinal Health by 109.3% during the 3rd quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock worth $248,658,000 after purchasing an additional 827,446 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

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.