Healthcare of Ontario Pension Plan Trust Fund Cuts Stake in Cardinal Health, Inc. $CAH

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 14.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 178,147 shares of the company’s stock after selling 30,112 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cardinal Health were worth $37,644,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CAH. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cardinal Health during the 4th quarter valued at $26,000. Bank of Jackson Hole Trust purchased a new position in Cardinal Health in the 4th quarter worth $27,000. Jones Financial Companies Lllp lifted its stake in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the last quarter. Palladiem LLC purchased a new stake in Cardinal Health during the fourth quarter valued at about $28,000. Finally, Indiana Trust & Investment Management Co purchased a new stake in Cardinal Health during the first quarter valued at about $29,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Down 0.0%

Shares of Cardinal Health stock opened at $227.96 on Monday. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $243.21. The company has a market cap of $53.39 billion, a P/E ratio of 34.86, a PEG ratio of 1.11 and a beta of 0.49. The company’s fifty day simple moving average is $219.98 and its two-hundred day simple moving average is $214.50.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.79 by $0.38. The firm had revenue of $60.94 billion during the quarter, compared to analysts’ expectations of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Analysts predict that Cardinal Health, Inc. will post 10.77 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.5158 dividend. This represents a $2.06 annualized dividend and a yield of 0.9%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is 31.50%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAH. Zacks Research cut Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. UBS Group increased their target price on Cardinal Health from $260.00 to $274.00 and gave the company a “buy” rating in a report on Monday, July 20th. Evercore reduced their price target on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. TD Cowen lifted their price target on Cardinal Health from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, Bank of America boosted their price objective on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $251.73.

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.