Geode Capital Management LLC Acquires 43,924 Shares of Cardinal Health, Inc. $CAH

Geode Capital Management LLC increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,529,013 shares of the company’s stock after buying an additional 43,924 shares during the period. Geode Capital Management LLC owned about 2.77% of Cardinal Health worth $1,336,750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CAH. Strategy Asset Managers LLC purchased a new position in Cardinal Health in the third quarter worth $775,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cardinal Health by 15.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock worth $5,938,000 after purchasing an additional 5,030 shares during the last quarter. Versor Investments LP purchased a new position in Cardinal Health in the third quarter worth $2,090,000. Machina Capital S.A.S. grew its holdings in Cardinal Health by 248.0% in the third quarter. Machina Capital S.A.S. now owns 27,054 shares of the company’s stock worth $4,246,000 after purchasing an additional 19,280 shares during the last quarter. Finally, Atle Fund Management AB grew its holdings in Cardinal Health by 13.1% in the third quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock worth $4,755,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Evercore dropped their price objective on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. TD Cowen boosted their price objective 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. Mizuho boosted their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Weiss Ratings lowered shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Finally, UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the company a “buy” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.80.

Cardinal Health Stock Performance

NYSE:CAH opened at $199.53 on Friday. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $233.60. The firm has a market cap of $46.73 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.19 and a beta of 0.53. The firm’s fifty day moving average is $203.82 and its two-hundred day moving average is $208.88.

Cardinal Health (NYSE:CAH) last posted 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 net margin of 0.62% and a negative return on equity of 92.61%. The company had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the prior year, the company earned $2.35 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities research analysts predict that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal 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 given a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. Cardinal Health’s payout ratio is currently 31.19%.

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.