Cardinal Health, Inc. $CAH Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 37.4% in the 3rd quarter, Holdings Channel reports. The fund owned 23,638 shares of the company’s stock after selling 14,102 shares during the period. Meeder Asset Management Inc.’s holdings in Cardinal Health were worth $3,710,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Tema Etfs LLC acquired a new stake in shares of Cardinal Health during the third quarter worth $2,339,000. Bayforest Capital Ltd lifted its position in Cardinal Health by 81.0% during the third quarter. Bayforest Capital Ltd now owns 5,128 shares of the company’s stock worth $805,000 after buying an additional 2,295 shares during the period. ORG Wealth Partners LLC boosted its stake in Cardinal Health by 5.4% in the 3rd quarter. ORG Wealth Partners LLC now owns 7,895 shares of the company’s stock worth $1,239,000 after buying an additional 406 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Cardinal Health by 1.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,253 shares of the company’s stock valued at $5,062,000 after buying an additional 358 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Cardinal Health by 32.4% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 27,334 shares of the company’s stock valued at $4,290,000 after acquiring an additional 6,693 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $185.00 to $221.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Jefferies Financial Group set a $220.00 price objective on shares of Cardinal Health and gave the company a “buy” rating in a research note on Monday, November 3rd. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $190.00 to $244.00 in a research report on Friday. Evercore ISI boosted their price target on Cardinal Health from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Barclays assumed coverage on Cardinal Health in a research note on Monday, December 8th. They set an “overweight” rating and a $243.00 price target for the company. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $212.60.

Cardinal Health Stock Down 0.7%

NYSE CAH opened at $201.06 on Monday. The stock has a market cap of $47.77 billion, a PE ratio of 30.33, a P/E/G ratio of 1.46 and a beta of 0.65. The business has a 50 day moving average price of $204.05 and a two-hundred day moving average price of $173.23. Cardinal Health, Inc. has a fifty-two week low of $119.25 and a fifty-two week high of $214.93.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.33. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The firm had revenue of $64.01 billion for the quarter, compared to the consensus estimate of $59.41 billion. During the same quarter in the previous year, the firm posted $1.88 EPS. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, January 2nd. Cardinal Health’s dividend payout ratio is presently 30.77%.

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.