Storgate LLC Buys Shares of 2,247 Cardinal Health, Inc. $CAH

Storgate LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,247 shares of the company’s stock, valued at approximately $462,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $790,344,000. Wellington Management Group LLP lifted its position in Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after buying an additional 3,511,579 shares in the last quarter. Holocene Advisors LP lifted its position in Cardinal Health by 141.4% in the 3rd quarter. Holocene Advisors LP now owns 1,926,170 shares of the company’s stock worth $302,332,000 after buying an additional 1,128,358 shares in the last quarter. Barclays PLC lifted its position in Cardinal Health by 109.3% in the 3rd quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock worth $248,658,000 after buying an additional 827,446 shares in the last quarter. Finally, SG Americas Securities LLC increased 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 purchasing an additional 708,995 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAH has been the topic of several analyst reports. Robert W. Baird set a $248.00 price target on shares of Cardinal Health in a research note on Friday, May 1st. Leerink Partners reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Cardinal Health in a report on Monday, March 9th. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 7th. Evercore cut their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.93.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $223.76 on Friday. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $233.60. The stock has a market cap of $52.41 billion, a P/E ratio of 34.21, a P/E/G ratio of 1.21 and a beta of 0.52. The firm has a 50 day moving average price of $203.21 and a 200 day moving average price of $208.85.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating 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 in the previous year, the firm earned $2.35 EPS. 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. Analysts predict that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.5158 dividend. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. Cardinal Health’s dividend payout ratio is currently 31.19%.

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.