Forsta AP Fonden Sells 51,300 Shares of Cardinal Health, Inc. $CAH

Forsta AP Fonden lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 35.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 93,000 shares of the company’s stock after selling 51,300 shares during the quarter. Forsta AP Fonden’s holdings in Cardinal Health were worth $19,112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Cardinal Health by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock valued at $6,461,179,000 after buying an additional 617,775 shares during the last quarter. Geode Capital Management LLC lifted its position in Cardinal Health by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after purchasing an additional 43,924 shares during the period. Wellington Management Group LLP grew its holdings in shares of 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 acquiring an additional 3,511,579 shares during the period. Norges Bank purchased a new stake in Cardinal Health during the fourth quarter valued at approximately $790,344,000. Finally, Bank of America Corp DE increased its position in Cardinal Health by 3.2% in the third quarter. Bank of America Corp DE now owns 3,592,775 shares of the company’s stock worth $563,922,000 after buying an additional 111,582 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CAH shares. Robert W. Baird set a $248.00 target price on shares of Cardinal Health in a report on Friday, May 1st. Argus raised their target price on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Mizuho boosted their price objective on Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. cut their price objective on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Finally, Wells Fargo & Company reduced their price target on Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $241.80.

Cardinal Health Trading Down 1.6%

CAH opened at $196.57 on Friday. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $233.60. The business’s fifty day simple moving average is $203.52 and its 200-day simple moving average is $208.79. The company has a market capitalization of $46.04 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.17 and a beta of 0.53.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share 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 firm had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. During the same period in the previous year, the company posted $2.35 earnings per share. The firm’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. On average, equities research analysts predict that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.5158 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 annualized dividend and a dividend yield of 1.0%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 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.