3,845,956 Shares in Cardinal Health, Inc. $CAH Acquired by Norges Bank

Norges Bank acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,845,956 shares of the company’s stock, valued at approximately $790,344,000. Norges Bank owned approximately 1.63% of Cardinal Health as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC purchased a new position in Cardinal Health during the fourth quarter worth approximately $25,000. Jones Financial Companies Lllp lifted its position in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares in the last quarter. JPL Wealth Management LLC purchased a new position in Cardinal Health during the third quarter worth approximately $31,000. Turning Point Benefit Group Inc. purchased a new position in Cardinal Health during the third quarter worth approximately $31,000. Finally, Cape Investment Advisory Inc. lifted its position in Cardinal Health by 61.1% during the third quarter. Cape Investment Advisory Inc. now owns 211 shares of the company’s stock worth $33,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 1.6%

NYSE:CAH opened at $196.57 on Friday. Cardinal Health, Inc. has a 52 week low of $137.75 and a 52 week high of $233.60. The company has a market capitalization of $46.04 billion, a P/E ratio of 30.06, a P/E/G ratio of 1.17 and a beta of 0.53. The stock’s fifty day moving average is $203.52 and its two-hundred day moving average is $208.79.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, April 30th. The company reported $3.17 EPS 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 company had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. During the same quarter in the previous year, the business earned $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. Sell-side analysts anticipate 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. Stockholders of record on Wednesday, July 1st will be paid a $0.5158 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.0%. Cardinal Health’s payout ratio is presently 31.19%.

Analyst Ratings Changes

CAH has been the topic of a number of analyst reports. William Blair initiated coverage on Cardinal Health in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Citigroup reduced their target price on Cardinal Health from $249.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Argus lifted their target price on Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company reduced their target price on Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $241.80.

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.