Cardinal Health, Inc. $CAH Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. cut its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 95,769 shares of the company’s stock after selling 6,539 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Cardinal Health were worth $19,727,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CAH. Vanguard Group Inc. grew its holdings in shares of Cardinal Health by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after acquiring an additional 617,775 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 worth $911,010,000 after acquiring an additional 3,511,579 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Cardinal Health by 3.2% in the 3rd quarter. Bank of America Corp DE now owns 3,592,775 shares of the company’s stock worth $563,922,000 after acquiring an additional 111,582 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Cardinal Health by 14.7% in the 3rd quarter. Invesco Ltd. now owns 3,483,207 shares of the company’s stock worth $546,724,000 after acquiring an additional 445,425 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Cardinal Health by 44.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock worth $352,165,000 after acquiring an additional 707,495 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. UBS Group set a $260.00 target price on Cardinal Health and gave the stock a “buy” rating in a report on Friday, February 6th. Mizuho lifted their target price on Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Argus lifted their target price on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $241.80.

Cardinal Health Stock Up 0.3%

Shares of Cardinal Health stock opened at $200.31 on Wednesday. The stock has a market cap of $46.91 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.19 and a beta of 0.53. The business has a fifty day simple moving average of $206.29 and a 200-day simple moving average of $208.61. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $233.60.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.79 by $0.38. The business had revenue of $60.94 billion during the quarter, compared to analysts’ expectations of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.Cardinal Health’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Analysts expect that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a $0.5158 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.0%. 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.