Resona Asset Management Co. Ltd. Has $19.67 Million Holdings in Cardinal Health, Inc. $CAH

Resona Asset Management Co. Ltd. decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Cardinal Health by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after acquiring an additional 617,775 shares during the period. State Street Corp raised its position in Cardinal Health by 1.8% during the fourth quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after purchasing an additional 221,497 shares in the last quarter. Geode Capital Management LLC raised 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 in the last quarter. Wellington Management Group LLP lifted its stake in Cardinal Health by 153.2% during 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 during the last quarter. Finally, Norges Bank acquired a new stake in shares of Cardinal Health in the 4th quarter valued at $790,344,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Down 1.4%

Shares of NYSE:CAH opened at $233.73 on Friday. The firm has a market cap of $54.74 billion, a P/E ratio of 35.74, a P/E/G 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 business has a fifty day simple moving average of $211.69 and a 200 day simple moving average of $212.83.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $62.10 billion. During the same quarter in the previous year, the company posted $2.35 EPS. The business’s 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, equities research analysts expect that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is 31.50%.

Wall Street Analyst Weigh In

CAH has been the topic of several recent analyst reports. Evercore decreased their price target on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley upped their price objective on Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. decreased their target price on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Weiss Ratings downgraded Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Finally, William Blair initiated coverage on shares of Cardinal Health in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.13.

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.