Meeder Asset Management Inc. Sells 74,819 Shares of Cardinal Health, Inc. $CAH

Meeder Asset Management Inc. decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 96.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,628 shares of the company’s stock after selling 74,819 shares during the quarter. Meeder Asset Management Inc.’s holdings in Cardinal Health were worth $555,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its stake in Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after purchasing an additional 280 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Cardinal Health in the second quarter valued at about $1,935,000. Cerity Partners LLC boosted its position in shares of Cardinal Health by 17.0% in the second quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock valued at $6,792,000 after acquiring an additional 5,880 shares during the period. Finally, Nebula Research & Development LLC grew its stake in shares of Cardinal Health by 34.4% in the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock valued at $1,736,000 after acquiring an additional 2,646 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 1.2%

CAH opened at $225.76 on Tuesday. The company’s 50 day moving average is $217.11 and its 200-day moving average is $213.94. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $243.21. The company has a market cap of $52.88 billion, a P/E ratio of 34.52, a PEG ratio of 1.12 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. The business 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 firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, equities analysts forecast that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on CAH. William Blair initiated coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. cut their price target on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Wells Fargo & Company reduced their price target on Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Citigroup reaffirmed a “buy” rating on shares of Cardinal Health in a report on Thursday, July 2nd. Finally, TD Cowen increased their target price on Cardinal Health from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $250.07.

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.