Allspring Global Investments Holdings LLC Increases Stock Holdings in Cardinal Health, Inc. $CAH

Allspring Global Investments Holdings LLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 223.4% in the first quarter, Holdings Channel.com reports. The fund owned 79,704 shares of the company’s stock after acquiring an additional 55,055 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cardinal Health were worth $16,899,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in Cardinal Health in the 4th quarter worth approximately $790,344,000. Wellington Management Group LLP boosted its holdings in 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 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 valued at $195,484,000 after purchasing an additional 884,648 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Cardinal Health by 3,829.1% in the fourth quarter. SG Americas Securities LLC now owns 727,511 shares of the company’s stock worth $149,504,000 after purchasing an additional 708,995 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Cardinal Health by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after purchasing an additional 617,775 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAH. Evercore dropped their price objective on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. UBS Group raised their price target on Cardinal Health from $260.00 to $274.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley lifted their price target on Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. cut their price objective on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Finally, TD Cowen upped their price objective on shares of Cardinal Health from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $250.07.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $226.98 on Wednesday. The firm has a market capitalization of $53.16 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $243.21. The firm has a fifty day moving average of $218.00 and a 200 day moving average of $214.09.

Cardinal Health (NYSE:CAH) last released 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. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The business 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 business posted $2.35 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 10.77 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is presently 31.50%.

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.