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

Sit Investment Associates Inc. trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 22.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,945 shares of the company’s stock after selling 16,272 shares during the quarter. Sit Investment Associates Inc.’s holdings in Cardinal Health were worth $11,291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. raised its stake in Cardinal Health by 0.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock worth $1,902,000 after buying an additional 48 shares during the period. HF Advisory Group LLC grew its stake in Cardinal Health by 0.9% in the fourth quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock valued at $1,074,000 after acquiring an additional 49 shares during the period. Hillsdale Investment Management Inc. increased its holdings in shares of Cardinal Health by 0.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock worth $1,184,000 after acquiring an additional 50 shares in the last quarter. Generali Asset Management SPA SGR increased its holdings in shares of Cardinal Health by 11.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock worth $105,000 after acquiring an additional 51 shares in the last quarter. Finally, Stephens Inc. AR raised its position in shares of Cardinal Health by 0.9% during the fourth quarter. Stephens Inc. AR now owns 5,951 shares of the company’s stock worth $1,223,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Robert W. Baird set a $248.00 target price on shares of Cardinal Health in a report on Friday, May 1st. Morgan Stanley lifted their price target on shares of Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Wall Street Zen downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.93.

Cardinal Health Stock Performance

NYSE:CAH opened at $222.08 on Friday. The stock has a 50-day simple moving average of $204.20 and a 200 day simple moving average of $209.18. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $233.60. The company has a market cap 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 released its earnings results on Thursday, April 30th. The company reported $3.17 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 firm had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. During the same quarter in the previous year, the business posted $2.35 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, research analysts predict that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm 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. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, July 1st. Cardinal Health’s payout ratio is presently 31.19%.

About Cardinal Health

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.