Fifth Third Bancorp Has $16.48 Million Stock Holdings in Cardinal Health, Inc. $CAH

Fifth Third Bancorp boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 446.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,006 shares of the company’s stock after purchasing an additional 63,741 shares during the quarter. Fifth Third Bancorp’s holdings in Cardinal Health were worth $16,483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aventura Private Wealth LLC acquired a new position in Cardinal Health in the 4th quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Cardinal Health in the fourth quarter valued at about $26,000. Jones Financial Companies Lllp boosted its position in shares of Cardinal Health by 198.3% in the first 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 period. Bank of Jackson Hole Trust acquired a new position in shares of Cardinal Health in the fourth quarter valued at about $27,000. Finally, Palladiem LLC acquired a new position in shares of Cardinal Health in the fourth quarter valued at about $28,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAH has been the subject of several analyst reports. William Blair assumed coverage on shares of Cardinal Health in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Robert W. Baird set a $248.00 target price on shares of Cardinal Health in a research report on Friday, May 1st. Zacks Research cut shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Morgan Stanley boosted their price target on Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, Bank of America increased their price target on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $249.13.

Cardinal Health Price Performance

Shares of CAH opened at $229.63 on Wednesday. The firm has a 50 day simple moving average of $213.81 and a two-hundred day simple moving average of $213.39. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $243.21. The company has a market cap of $53.78 billion, a P/E ratio of 35.11, a P/E/G ratio of 1.14 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share 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 firm had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. During the same quarter last year, the business posted $2.35 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, analysts expect that Cardinal Health, Inc. will post 10.77 earnings per share 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. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.5158 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s payout ratio is presently 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.