Cardinal Health, Inc. $CAH Shares Sold by Westpac Banking Corp

Westpac Banking Corp decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 63.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,652 shares of the company’s stock after selling 4,666 shares during the period. Westpac Banking Corp’s holdings in Cardinal Health were worth $545,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Aventura Private Wealth LLC purchased a new position in shares of Cardinal Health during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp grew its stake in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the period. JPL Wealth Management LLC acquired a new position in Cardinal Health in the 3rd quarter valued at $31,000. Turning Point Benefit Group Inc. acquired a new position in Cardinal Health in the 3rd quarter valued at $31,000. Finally, Cape Investment Advisory Inc. lifted its stake in shares of Cardinal Health by 61.1% during the 3rd quarter. Cape Investment Advisory Inc. now owns 211 shares of the company’s stock worth $33,000 after purchasing an additional 80 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAH has been the topic of a number of research analyst reports. Leerink Partners reissued an “outperform” rating and issued a $275.00 price target on shares of Cardinal Health in a research note on Monday, March 9th. Weiss Ratings downgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Argus raised their price target on shares of Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Citigroup cut their price target on shares of Cardinal Health from $249.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $241.80.

Cardinal Health Stock Performance

NYSE:CAH opened at $201.68 on Friday. The stock has a market cap of $47.24 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.07 and a beta of 0.52. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $233.60. The business has a fifty day moving average of $202.64 and a 200-day moving average of $208.59.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data 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 net margin of 0.62% and a negative return on equity of 92.61%. The business had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same quarter last year, the business earned $2.35 earnings per share. The business’s revenue for the quarter 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a $0.5158 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.0%. Cardinal Health’s dividend payout ratio is 31.19%.

Cardinal Health Company 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.