Cardinal Health, Inc. $CAH Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 64.2% during the 4th quarter, Holdings Channel reports. The fund owned 57,318 shares of the company’s stock after acquiring an additional 22,419 shares during the period. CIBC Asset Management Inc’s holdings in Cardinal Health were worth $11,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Aventura Private Wealth LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp grew its position in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Cardinal Health in the 3rd quarter worth approximately $31,000. Turning Point Benefit Group Inc. acquired a new position in shares of Cardinal Health in the 3rd quarter worth approximately $31,000. Finally, Cape Investment Advisory Inc. lifted its holdings in shares of Cardinal Health by 61.1% in the 3rd quarter. Cape Investment Advisory Inc. now owns 211 shares of the company’s stock worth $33,000 after purchasing an additional 80 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 2.0%

CAH stock opened at $205.79 on Friday. The firm has a market cap of $48.20 billion, a P/E ratio of 31.47, a P/E/G ratio of 1.10 and a beta of 0.52. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $233.60. The business’s 50 day moving average is $202.53 and its 200-day moving average is $208.57.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. The business had revenue of $60.94 billion for 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 revenue for the quarter was up 11.0% on a year-over-year basis. 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. Sell-side analysts forecast that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.5158 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.06 annualized dividend and a yield of 1.0%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is currently 31.19%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CAH shares. JPMorgan Chase & Co. cut their target price on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. UBS Group set a $260.00 price objective on Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. Evercore decreased their target price on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Zacks Research upgraded Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Finally, Robert W. Baird set a $248.00 price target on Cardinal Health in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.80.

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.