Harold Davidson & Associates Inc. Takes $1.65 Million Position in Cardinal Health, Inc. $CAH

Harold Davidson & Associates Inc. bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,795 shares of the company’s stock, valued at approximately $1,647,000.

Several other large investors have also made changes to their positions in CAH. Norges Bank bought a new stake in Cardinal Health during the 4th quarter worth about $790,344,000. Wellington Management Group LLP boosted its stake in shares of Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the last quarter. Holocene Advisors LP grew its position in shares of Cardinal Health by 141.4% during the 3rd quarter. Holocene Advisors LP now owns 1,926,170 shares of the company’s stock worth $302,332,000 after buying an additional 1,128,358 shares during the period. Marshall Wace LLP grew its position in shares of Cardinal Health by 1,328.1% during the 4th quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock worth $195,484,000 after buying an additional 884,648 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Cardinal Health by 3,829.1% during the fourth quarter. SG Americas Securities LLC now owns 727,511 shares of the company’s stock worth $149,504,000 after buying an additional 708,995 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Down 1.4%

Shares of Cardinal Health stock opened at $233.73 on Friday. The stock’s fifty day simple moving average is $211.69 and its 200 day simple moving average is $212.83. The company has a market capitalization of $54.74 billion, a PE ratio of 35.74, a PEG ratio of 1.17 and a beta of 0.49. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $243.21.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $62.10 billion. During the same period in the prior year, the company earned $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. Analysts predict that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.5158 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio is 31.50%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CAH shares. Bank of America increased their price objective on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. William Blair assumed coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Weiss Ratings downgraded Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Robert W. Baird set a $248.00 price target on Cardinal Health in a research report on Friday, May 1st. Finally, Citigroup reaffirmed a “buy” rating on shares of Cardinal Health in a research note on Thursday, July 2nd. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.13.

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.