Gateway Investment Advisers LLC Decreases Holdings in Cardinal Health, Inc. $CAH

Gateway Investment Advisers LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 40.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,117 shares of the company’s stock after selling 5,418 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Cardinal Health were worth $1,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CAH. Aventura Private Wealth LLC purchased a new stake in Cardinal Health during the 4th quarter valued at $25,000. Jones Financial Companies Lllp raised its stake in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at $31,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Cardinal Health in the 3rd quarter worth $31,000. Finally, American Capital Advisory LLC increased its stake in shares of Cardinal Health by 5,200.0% in the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after purchasing an additional 208 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CAH shares. Evercore reduced their price objective on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. TD Cowen upped their price objective on Cardinal Health from $251.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Jefferies Financial Group upped their price objective on Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $241.80.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $183.97 on Friday. The company has a market capitalization of $43.09 billion, a P/E ratio of 28.13, a P/E/G ratio of 1.10 and a beta of 0.53. The company has a fifty day moving average of $211.71 and a 200 day moving average of $206.94. Cardinal Health, Inc. has a fifty-two week low of $137.75 and a fifty-two week high of $233.60.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.38. The company had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. Cardinal Health’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Analysts forecast 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. Investors of record on Wednesday, July 1st will be issued a $0.5158 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.06 annualized dividend and a yield of 1.1%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 31.19%.

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.