Cardinal Health, Inc. $CAH Stock Position Lowered by Fred Alger Management LLC

Fred Alger Management LLC lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 14.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 404,679 shares of the company’s stock after selling 67,973 shares during the period. Fred Alger Management LLC’s holdings in Cardinal Health were worth $83,162,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Redhawk Wealth Advisors Inc. raised its stake in shares of Cardinal Health by 0.5% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock worth $1,902,000 after buying an additional 48 shares in the last quarter. HF Advisory Group LLC raised its position in shares of Cardinal Health by 0.9% during the fourth quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock worth $1,074,000 after purchasing an additional 49 shares during the period. Hillsdale Investment Management Inc. raised its position in shares of Cardinal Health by 0.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock worth $1,184,000 after purchasing an additional 50 shares during the period. Generali Asset Management SPA SGR raised its position in shares of Cardinal Health by 11.0% during the fourth quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock worth $105,000 after purchasing an additional 51 shares during the period. Finally, Stephens Inc. AR raised its position in shares of Cardinal Health by 0.9% during the fourth quarter. Stephens Inc. AR now owns 5,951 shares of the company’s stock worth $1,223,000 after purchasing an additional 52 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $227.63 on Wednesday. The business’s 50-day moving average price is $203.74 and its two-hundred day moving average price is $209.02. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $233.60. The company has a market capitalization of $53.31 billion, a P/E ratio of 34.81, a price-to-earnings-growth ratio of 1.24 and a beta of 0.52.

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

Cardinal Health Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAH. Morgan Stanley boosted their target price on Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Leerink Partners reaffirmed an “outperform” rating and set a $275.00 target price on shares of Cardinal Health in a research report on Monday, March 9th. TD Cowen lifted their price target on Cardinal Health from $251.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, William Blair began coverage on Cardinal Health in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.93.

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.