Martingale Asset Management L P Has $21.87 Million Stock Holdings in Cardinal Health, Inc. $CAH

Martingale Asset Management L P lessened its holdings in Cardinal Health, Inc. (NYSE:CAH) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,415 shares of the company’s stock after selling 11,974 shares during the period. Martingale Asset Management L P’s holdings in Cardinal Health were worth $21,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Korea Investment CORP boosted its position in shares of Cardinal Health by 24.8% in the fourth quarter. Korea Investment CORP now owns 215,857 shares of the company’s stock worth $44,359,000 after buying an additional 42,840 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of Cardinal Health in the fourth quarter worth $1,703,000. Wealthspire Advisors LLC boosted its position in shares of Cardinal Health by 41.4% in the fourth quarter. Wealthspire Advisors LLC now owns 3,676 shares of the company’s stock worth $756,000 after buying an additional 1,077 shares during the period. Allianz SE acquired a new stake in shares of Cardinal Health in the fourth quarter worth $652,000. Finally, Summit Financial LLC boosted its position in shares of Cardinal Health by 3.0% in the fourth quarter. Summit Financial LLC now owns 2,950 shares of the company’s stock worth $606,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Up 1.2%

Shares of NYSE:CAH opened at $223.76 on Friday. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $233.60. The business has a fifty day simple moving average of $203.21 and a 200 day simple moving average of $208.85. The firm has a market cap of $52.41 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 1.21 and a beta of 0.52.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $60.94 billion during the quarter, compared to analyst estimates of $62.10 billion. During the same period last year, the company earned $2.35 earnings per share. Cardinal Health’s quarterly 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, sell-side analysts forecast that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.5158 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, July 1st. Cardinal Health’s dividend payout ratio is 31.19%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CAH shares. JPMorgan Chase & Co. decreased their target price on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 7th. Robert W. Baird set a $248.00 target price on Cardinal Health in a research report on Friday, May 1st. TD Cowen increased their price objective on Cardinal Health from $251.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Barclays increased their price objective on Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $246.93.

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.