Cardinal Health, Inc. $CAH Shares Sold by Renaissance Group LLC

Renaissance Group LLC decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 181,052 shares of the company’s stock after selling 30,774 shares during the quarter. Cardinal Health accounts for approximately 1.5% of Renaissance Group LLC’s holdings, making the stock its 16th largest position. Renaissance Group LLC owned approximately 0.08% of Cardinal Health worth $37,206,000 as of its most recent SEC filing.

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

Cardinal Health Stock Up 1.5%

CAH opened at $215.77 on Thursday. The stock has a fifty day moving average of $202.77 and a 200-day moving average of $208.66. The firm has a market capitalization of $50.54 billion, a P/E ratio of 32.99, a PEG ratio of 1.16 and a beta of 0.52. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $233.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.38. The business had revenue of $60.94 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, 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 paid a dividend of $0.5158 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.06 annualized dividend and a yield of 1.0%. Cardinal Health’s dividend payout ratio (DPR) is presently 31.19%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CAH. Morgan Stanley increased their price objective on shares of Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their target price on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Leerink Partners reaffirmed an “outperform” rating and set a $275.00 price target on shares of Cardinal Health in a research note 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 research report on Friday, May 1st. Finally, Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $246.93.

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.