Cardinal Health, Inc. $CAH Position Boosted by Ascentis Independent Advisors

Ascentis Independent Advisors lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 76.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,352 shares of the company’s stock after acquiring an additional 2,313 shares during the quarter. Ascentis Independent Advisors’ holdings in Cardinal Health were worth $1,131,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CAH. Nordea Investment Management AB grew its holdings 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 in the last quarter. Procyon Advisors LLC raised its position in Cardinal Health by 78.7% during the fourth quarter. Procyon Advisors LLC now owns 17,025 shares of the company’s stock valued at $3,499,000 after buying an additional 7,499 shares during the period. Kornitzer Capital Management Inc. KS lifted its stake in Cardinal Health by 100.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock worth $3,733,000 after acquiring an additional 9,120 shares in the last quarter. Bank of Nova Scotia boosted its position in Cardinal Health by 137.4% during the 3rd quarter. Bank of Nova Scotia now owns 393,474 shares of the company’s stock worth $61,760,000 after acquiring an additional 227,716 shares during the period. Finally, Swiss Life Asset Management Ltd boosted its position in Cardinal Health by 73.3% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 76,736 shares of the company’s stock worth $12,044,000 after acquiring an additional 32,464 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of CAH stock opened at $239.36 on Wednesday. The stock’s 50 day simple moving average is $210.43 and its 200 day simple moving average is $212.35. Cardinal Health, Inc. has a twelve month low of $137.75 and a twelve month high of $243.21. The company has a market capitalization of $56.06 billion, a price-to-earnings ratio of 36.60, a PEG ratio of 1.17 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating the consensus estimate 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 company had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. During the same quarter last year, the company posted $2.35 earnings per share. The company’s revenue for the quarter 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. On average, analysts forecast 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. Stockholders of record on Wednesday, July 1st will be given a $0.5158 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is 31.50%.

Analyst Ratings Changes

CAH has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target 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. Bank of America upped their price objective on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday. TD Cowen boosted their price target on shares of Cardinal Health from $251.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Zacks Research downgraded shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $247.80.

Cardinal Health Company 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.