Cardinal Health, Inc. $CAH Shares Sold by Man Group plc

Man Group plc trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,020,795 shares of the company’s stock after selling 584,554 shares during the period. Man Group plc’s holdings in Cardinal Health were worth $209,773,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Cardinal Health by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock valued at $6,461,179,000 after buying an additional 617,775 shares in the last quarter. State Street Corp lifted its position in Cardinal Health by 1.8% during the fourth quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after buying an additional 221,497 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cardinal Health by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock worth $1,336,750,000 after acquiring an additional 43,924 shares during the period. Wellington Management Group LLP boosted its holdings 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 acquiring an additional 3,511,579 shares during the period. Finally, Norges Bank acquired a new stake in Cardinal Health in the fourth quarter valued at approximately $790,344,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of analyst reports. Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. TD Cowen lifted their price objective on shares of Cardinal Health from $251.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Robert W. Baird set a $248.00 price objective on shares of Cardinal Health in a research note on Friday, May 1st. Finally, Evercore dropped their price objective on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $246.93.

Cardinal Health Stock Down 0.6%

Shares of CAH opened at $226.29 on Thursday. The business’s 50 day moving average is $204.01 and its two-hundred day moving average is $209.11. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $233.60. The firm has a market cap of $53.00 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 1.25 and a beta of 0.52.

Cardinal Health (NYSE:CAH) last announced its earnings results 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. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The company had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the prior year, the company posted $2.35 EPS. Cardinal Health’s quarterly revenue was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, equities analysts expect that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 31.19%.

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.