Healthcare of Ontario Pension Plan Trust Fund Sells 85,061 Shares of Cardinal Health, Inc. $CAH

Healthcare of Ontario Pension Plan Trust Fund decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 29.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 208,259 shares of the company’s stock after selling 85,061 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cardinal Health were worth $42,797,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Aventura Private Wealth LLC bought a new position in Cardinal Health in the fourth quarter worth $25,000. Bank of Jackson Hole Trust bought a new position in Cardinal Health in the fourth quarter worth $27,000. Jones Financial Companies Lllp raised its holdings in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares in the last quarter. Palladiem LLC bought a new position in Cardinal Health in the fourth quarter worth $28,000. Finally, JPL Wealth Management LLC bought a new position in Cardinal Health in the third quarter worth $31,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.0%

NYSE CAH opened at $223.76 on Monday. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $233.60. The stock has a market cap of $52.41 billion, a P/E ratio of 34.21, a P/E/G ratio of 1.22 and a beta of 0.52. The stock’s fifty day moving average price is $203.21 and its 200-day moving average price is $208.83.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping 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 analysts’ expectations of $62.10 billion. During the same period in the prior year, the firm posted $2.35 earnings per share. The company’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 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm 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. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. 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. Cardinal Health’s payout ratio is 31.19%.

Wall Street Analyst Weigh In

CAH has been the subject of a number of research reports. Morgan Stanley increased their price objective on Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Evercore decreased their price objective on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Robert W. Baird set a $248.00 target price on Cardinal Health in a research note on Friday, May 1st. Weiss Ratings cut Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Finally, Barclays increased their target price on Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company 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.