Cardinal Health, Inc. $CAH Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 23,639.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,704 shares of the company’s stock after buying an additional 19,621 shares during the quarter. iA Global Asset Management Inc.’s holdings in Cardinal Health were worth $4,164,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Aventura Private Wealth LLC purchased a new position in shares of Cardinal Health in the fourth quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cardinal Health during the fourth quarter worth approximately $26,000. Bank of Jackson Hole Trust acquired a new position in Cardinal Health in the 4th quarter valued at $27,000. Jones Financial Companies Lllp raised its stake in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the last quarter. Finally, Palladiem LLC purchased a new position in Cardinal Health in the 4th quarter valued at $28,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Leerink Partners restated an “outperform” rating and set a $275.00 price target on shares of Cardinal Health in a research report on Monday, March 9th. Morgan Stanley upped their price objective on shares of Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Evercore cut their price objective on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Finally, TD Cowen raised their target price on shares of Cardinal Health from $251.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $246.93.

Cardinal Health Stock Up 0.3%

CAH stock opened at $238.31 on Thursday. The business has a fifty day moving average of $207.54 and a two-hundred day moving average of $211.22. The stock has a market cap of $55.82 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 1.30 and a beta of 0.48. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $240.93.

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. The business had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 10.76 EPS for the current 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 paid a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.9%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, July 1st. Cardinal Health’s payout ratio is 31.19%.

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.