Te Ahumairangi Investment Management Ltd Sells 9,327 Shares of Cardinal Health, Inc. $CAH

Te Ahumairangi Investment Management Ltd lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,114 shares of the company’s stock after selling 9,327 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Cardinal Health were worth $4,955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Cardinal Health during the fourth quarter worth about $790,344,000. Wellington Management Group LLP raised its stake in Cardinal Health by 153.2% in the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after buying an additional 3,511,579 shares during the period. Holocene Advisors LP lifted its position in shares of Cardinal Health by 141.4% in the third quarter. Holocene Advisors LP now owns 1,926,170 shares of the company’s stock valued at $302,332,000 after buying an additional 1,128,358 shares during the last quarter. Barclays PLC lifted its position in shares of Cardinal Health by 109.3% in the third quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock valued at $248,658,000 after buying an additional 827,446 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Cardinal Health by 3,829.1% during the 4th quarter. SG Americas Securities LLC now owns 727,511 shares of the company’s stock worth $149,504,000 after acquiring an additional 708,995 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 2.4%

NYSE CAH opened at $221.58 on Friday. The company has a market cap of $51.90 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 1.18 and a beta of 0.52. The company has a 50 day moving average of $202.98 and a 200-day moving average of $208.74. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $233.60.

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

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a $0.5158 dividend. The ex-dividend date is Wednesday, July 1st. This is an increase 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 0.9%. Cardinal Health’s dividend payout ratio (DPR) is 31.19%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CAH. Morgan Stanley increased 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. Weiss Ratings downgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Robert W. Baird set a $248.00 price objective on shares of Cardinal Health in a research report on Friday, May 1st. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Finally, 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 report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $246.93.

About Cardinal Health

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.