Cardinal Health (NYSE:CAH) Sets New 12-Month High – Here’s Why

Cardinal Health, Inc. (NYSE:CAH) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $241.86 and last traded at $234.5040, with a volume of 89966 shares changing hands. The stock had previously closed at $238.94.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CAH shares. Leerink Partners reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Cardinal Health in a research report on Monday, March 9th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Robert W. Baird set a $248.00 price target on Cardinal Health in a research report on Friday, May 1st. Bank of America lifted their price objective on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $247.80.

Cardinal Health Stock Performance

The firm has a market capitalization of $55.10 billion, a PE ratio of 35.98, a PEG ratio of 1.17 and a beta of 0.49. The company’s 50-day moving average price is $208.99 and its 200-day moving average price is $211.78.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating the consensus estimate of $2.79 by $0.38. The firm 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, analysts anticipate that Cardinal Health, Inc. will post 10.76 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.5158 per share. The ex-dividend date is Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is presently 31.50%.

Hedge Funds Weigh In On Cardinal Health

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

Cardinal Health Company 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.