Norges Bank Invests $584.42 Million in Cardinal Health, Inc. $CAH

Norges Bank acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the second quarter, Holdings Channel reports. The institutional investor acquired 3,478,693 shares of the company’s stock, valued at approximately $584,420,000.

A number of other large investors also recently added to or reduced their stakes in CAH. Counterpoint Mutual Funds LLC bought a new position in shares of Cardinal Health during the second quarter valued at about $1,911,000. Atlantic Union Bankshares Corp purchased a new stake in Cardinal Health during the 2nd quarter valued at about $79,000. KLP Kapitalforvaltning AS grew its position in Cardinal Health by 4.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 114,198 shares of the company’s stock worth $19,185,000 after acquiring an additional 4,400 shares during the last quarter. Czech National Bank increased its stake in Cardinal Health by 5.1% in the 2nd quarter. Czech National Bank now owns 58,341 shares of the company’s stock worth $9,801,000 after purchasing an additional 2,857 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Cardinal Health by 92.5% in the second quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock valued at $282,063,000 after purchasing an additional 807,063 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the topic of several recent analyst reports. Robert W. Baird set a $232.00 target price on shares of Cardinal Health in a report on Friday, October 31st. TD Cowen raised their price target on shares of Cardinal Health from $183.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Evercore ISI upped their price objective on shares of Cardinal Health from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a report on Tuesday, November 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.57.

Cardinal Health Trading Down 0.4%

Shares of CAH opened at $212.26 on Friday. Cardinal Health, Inc. has a 1-year low of $114.60 and a 1-year high of $214.93. The firm’s 50-day moving average price is $177.57 and its 200-day moving average price is $163.40. The firm has a market capitalization of $50.43 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 1.39 and a beta of 0.72.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. The company had revenue of $64.01 billion during the quarter, compared to the consensus estimate of $59.41 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. Cardinal Health’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 30.77%.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.