Sit Investment Associates Inc. Sells 16,272 Shares of Cardinal Health, Inc. $CAH

Sit Investment Associates Inc. lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 22.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 54,945 shares of the company’s stock after selling 16,272 shares during the period. Sit Investment Associates Inc.’s holdings in Cardinal Health were worth $11,291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. DGS Capital Management LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $268,000. SG Trading Solutions LLC bought a new stake in shares of Cardinal Health during the 4th quarter worth approximately $229,000. Virtu Financial LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $642,000. MV Capital Management Inc. bought a new position in shares of Cardinal Health in the fourth quarter valued at $59,000. Finally, Van Diest Capital LLC bought a new position in shares of Cardinal Health in the fourth quarter valued at $365,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Leerink Partners reaffirmed an “outperform” rating and set a $275.00 price target on shares of Cardinal Health in a research report on Monday, March 9th. Zacks Research downgraded shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Morgan Stanley boosted their price objective on shares of Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. TD Cowen upped their target price on shares of Cardinal Health from $251.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Monday. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $246.93.

Cardinal Health Trading Down 1.9%

CAH stock opened at $222.08 on Friday. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $233.60. The business’s 50 day simple moving average is $204.20 and its 200 day simple moving average is $209.18. The firm has a market capitalization of $52.01 billion, a PE ratio of 33.96, a PEG ratio of 1.24 and a beta of 0.52.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. During the same quarter last year, the firm posted $2.35 EPS. 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, sell-side analysts predict 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. Stockholders of record on Wednesday, July 1st will be given a $0.5158 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s payout ratio is currently 31.19%.

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.