Cardinal Health, Inc. $CAH Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.5% during the first quarter, HoldingsChannel.com reports. The firm owned 1,359,624 shares of the company’s stock after selling 34,175 shares during the period. Bank of New York Mellon Corp’s holdings in Cardinal Health were worth $287,302,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Cardinal Health in the 4th quarter valued at about $26,000. Bank of Jackson Hole Trust acquired a new position in shares of Cardinal Health during the fourth quarter valued at approximately $27,000. Indiana Trust & Investment Management Co acquired a new position in shares of Cardinal Health during the 1st quarter valued at $29,000. Finally, Palladiem LLC acquired a new position in Cardinal Health during the fourth quarter worth about $28,000. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CAH. Wells Fargo & Company cut their target price 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 reissued a “buy” rating on shares of Cardinal Health in a research report on Thursday, July 2nd. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. 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. Finally, Morgan Stanley lifted their target price on shares of Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $249.13.

Cardinal Health Price Performance

Shares of CAH stock opened at $228.57 on Friday. The stock has a market capitalization of $53.53 billion, a PE ratio of 34.95, a PEG ratio of 1.12 and a beta of 0.49. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $243.21. The business’s 50 day simple moving average is $216.25 and its 200 day simple moving average is $213.76.

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

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis 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 is 31.50%.

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.