Cardinal Health (NYSE:CAH) Sets New 12-Month High – What’s Next?

Cardinal Health, Inc. (NYSE:CAH) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $240.93 and last traded at $236.0250, with a volume of 1926579 shares changing hands. The stock had previously closed at $237.92.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CAH shares. Evercore cut their target price on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. Wells Fargo & Company lowered their price objective on Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. William Blair assumed coverage on Cardinal Health in a report on Tuesday, April 28th. They set an “outperform” rating for the company. Leerink Partners restated an “outperform” rating and issued a $275.00 target price on shares of Cardinal Health in a research report on Monday, March 9th. Finally, Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Fourteen research 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 currently has an average rating of “Moderate Buy” and a consensus target price of $246.93.

Cardinal Health Stock Up 0.3%

The stock has a market capitalization of $55.82 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 1.30 and a beta of 0.48. The business’s 50-day moving average is $207.54 and its two-hundred day moving average is $211.22.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data 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 net margin of 0.62% and a negative return on equity of 92.61%. The company had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. During the same quarter in the prior year, the firm earned $2.35 EPS. Cardinal Health’s quarterly revenue was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, analysts forecast that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given 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 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is 31.19%.

Institutional Investors Weigh In On Cardinal Health

A number of hedge funds have recently modified their holdings of CAH. PVG Asset Management Corp acquired a new stake in Cardinal Health during the second quarter worth about $226,000. Sapient Capital LLC acquired a new position in Cardinal Health in the 1st quarter valued at about $534,000. Pacer Advisors Inc. grew its stake in shares of Cardinal Health by 14.7% in the 1st quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock valued at $330,728,000 after buying an additional 200,021 shares during the period. Farmers National Bank purchased a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $233,000. Finally, DV Trading LLC increased its holdings in shares of Cardinal Health by 162.0% during the 1st quarter. DV Trading LLC now owns 1,048 shares of the company’s stock worth $221,000 after buying an additional 648 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

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.