PNC Financial Services Group Inc. Purchases 2,621 Shares of Cardinal Health, Inc. $CAH

PNC Financial Services Group Inc. lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,950 shares of the company’s stock after purchasing an additional 2,621 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cardinal Health were worth $17,528,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Cardinal Health by 2.0% during the fourth 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 in the last quarter. State Street Corp raised its stake in shares of Cardinal Health by 1.8% in the fourth quarter. State Street Corp now owns 12,509,230 shares of the company’s stock worth $2,570,647,000 after purchasing an additional 221,497 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cardinal Health by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock worth $1,336,750,000 after purchasing an additional 43,924 shares during the last quarter. Wellington Management Group LLP lifted its stake in Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after acquiring an additional 3,511,579 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Cardinal Health in the 4th quarter worth $790,344,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. UBS Group upped their price objective on shares of Cardinal Health from $260.00 to $274.00 and gave the stock a “buy” rating in a research report on Monday. TD Cowen increased their price target on Cardinal Health from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Evercore reduced their price objective on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. Finally, 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. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $251.73.

Cardinal Health Stock Performance

CAH stock opened at $227.96 on Friday. The stock has a fifty day moving average of $219.98 and a 200-day moving average of $214.43. Cardinal Health, Inc. has a fifty-two week low of $137.75 and a fifty-two week high of $243.21. The company has a market capitalization of $53.39 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 1.11 and a beta of 0.49.

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, beating analysts’ consensus estimates of $2.79 by $0.38. The business had revenue of $60.94 billion for 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%.The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Equities analysts predict that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is presently 31.50%.

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.