Maryland State Retirement & Pension System Raises Stock Holdings in Cardinal Health, Inc. $CAH

Maryland State Retirement & Pension System boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,739 shares of the company’s stock after buying an additional 354 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cardinal Health were worth $1,972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAH. NBC Securities Inc. purchased a new stake in shares of Cardinal Health during the 1st quarter valued at about $48,000. GAMMA Investing LLC increased its position in shares of Cardinal Health by 28.4% during the 1st quarter. GAMMA Investing LLC now owns 7,004 shares of the company’s stock valued at $965,000 after purchasing an additional 1,549 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Cardinal Health by 4.8% during the 1st quarter. Handelsbanken Fonder AB now owns 41,708 shares of the company’s stock valued at $5,746,000 after purchasing an additional 1,925 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Cardinal Health by 25.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company’s stock valued at $1,811,000 after purchasing an additional 2,694 shares during the last quarter. Finally, CX Institutional increased its position in shares of Cardinal Health by 20.7% during the 1st quarter. CX Institutional now owns 2,722 shares of the company’s stock valued at $375,000 after purchasing an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH stock opened at $156.86 on Friday. Cardinal Health, Inc. has a 1-year low of $106.98 and a 1-year high of $168.44. The company has a market capitalization of $37.27 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.33 and a beta of 0.71. The business has a 50 day simple moving average of $152.09 and a two-hundred day simple moving average of $151.09.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The business had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. During the same period in the prior year, the company posted $1.84 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Cardinal Health’s dividend payout ratio is presently 31.63%.

Analysts Set New Price Targets

CAH has been the subject of several research reports. Leerink Partners upped their price target on shares of Cardinal Health from $186.00 to $187.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday. Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Wells Fargo & Company reiterated an “overweight” rating and set a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Finally, UBS Group reiterated a “buy” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Twelve investment 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 a consensus price target of $166.00.

Insiders Place Their Bets

In other Cardinal Health news, CEO Jason M. Hollar sold 107,705 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.90, for a total value of $16,037,274.50. Following the completion of the transaction, the chief executive officer directly owned 235,901 shares in the company, valued at $35,125,658.90. This represents a 31.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $2,009,070.00. Following the transaction, the insider owned 14,976 shares of the company’s stock, valued at $2,228,728.32. This represents a 47.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock worth $40,489,525 over the last ninety days. 0.12% of the stock is owned by company insiders.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.