Resona Asset Management Co. Ltd. Sells 2,153 Shares of Cardinal Health, Inc. $CAH

Resona Asset Management Co. Ltd. reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.2% in the first quarter, HoldingsChannel.com reports. The fund owned 93,616 shares of the company’s stock after selling 2,153 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Cardinal Health were worth $19,667,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $790,344,000. Wellington Management Group LLP increased its holdings in Cardinal Health by 153.2% in the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after purchasing an additional 3,511,579 shares in the last quarter. Holocene Advisors LP increased its holdings in Cardinal Health by 141.4% in the third quarter. Holocene Advisors LP now owns 1,926,170 shares of the company’s stock worth $302,332,000 after purchasing an additional 1,128,358 shares in the last quarter. Marshall Wace LLP lifted its stake in Cardinal Health by 1,328.1% in the fourth quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock valued at $195,484,000 after buying an additional 884,648 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Cardinal Health by 3,829.1% in the fourth quarter. SG Americas Securities LLC now owns 727,511 shares of the company’s stock valued at $149,504,000 after buying an additional 708,995 shares during the period. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CAH. William Blair began coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Citigroup reaffirmed a “buy” rating on shares of Cardinal Health in a research report on Thursday, July 2nd. Bank of America upped their price target on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Morgan Stanley increased their price target on Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.13.

Cardinal Health Trading Down 1.4%

CAH opened at $233.73 on Friday. The company has a market cap of $54.74 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 1.17 and a beta of 0.49. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $243.21. The company has a 50 day moving average of $211.69 and a 200 day moving average of $212.83.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. The business had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The firm’s quarterly revenue was up 11.0% on a year-over-year basis. 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. Research analysts forecast that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.5158 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is currently 31.50%.

Cardinal Health 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.