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

Norges Bank bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,478,693 shares of the company’s stock, valued at approximately $584,420,000. Norges Bank owned approximately 1.46% of Cardinal Health as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Counterpoint Mutual Funds LLC bought a new position in Cardinal Health in the 2nd quarter worth approximately $1,911,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Cardinal Health during the second quarter worth $79,000. KLP Kapitalforvaltning AS boosted its holdings in shares of Cardinal Health by 4.0% in the second 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 period. Czech National Bank grew its position in shares of Cardinal Health by 5.1% in the second quarter. Czech National Bank now owns 58,341 shares of the company’s stock valued at $9,801,000 after purchasing an additional 2,857 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Cardinal Health by 92.5% during the 2nd 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 period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

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 company has a market capitalization of $50.43 billion, a P/E ratio of 32.91, a P/E/G ratio of 1.39 and a beta of 0.72. The firm’s 50 day simple moving average is $177.57 and its 200 day simple moving average is $163.40.

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

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.5107 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.04 annualized dividend and a yield of 1.0%. Cardinal Health’s payout ratio is 30.77%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAH. Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Argus raised their price objective on shares of Cardinal Health from $189.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, October 8th. Citigroup increased their target price on shares of Cardinal Health from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Finally, Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

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.