Burney Co. Sells 17,851 Shares of Cardinal Health, Inc. $CAH

Burney Co. decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 36.9% during the first quarter, Holdings Channel.com reports. The firm owned 30,487 shares of the company’s stock after selling 17,851 shares during the period. Burney Co.’s holdings in Cardinal Health were worth $6,442,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Integrated Wealth Concepts LLC increased its holdings in shares of Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after buying an additional 280 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of 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 acquiring an additional 14,034 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Cardinal Health in the 2nd quarter valued at about $1,935,000. Cerity Partners LLC grew its position in Cardinal Health by 17.0% in the second quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock worth $6,792,000 after acquiring an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC grew its position in Cardinal Health by 34.4% in the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock worth $1,736,000 after acquiring an additional 2,646 shares in 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 issued reports on CAH shares. Evercore decreased their price objective on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. Citigroup reiterated a “buy” rating on shares of Cardinal Health in a report on Thursday. Bank of America boosted their target price on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. decreased their price target on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.80.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $237.38 on Tuesday. The company has a market cap of $55.60 billion, a P/E ratio of 36.30, a PEG ratio of 1.17 and a beta of 0.49. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $241.86. The firm has a 50-day simple moving average of $209.64 and a two-hundred day simple moving average of $212.06.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.38. The business had revenue of $60.94 billion during 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 revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The firm 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 is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio is currently 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.