Harold Davidson & Associates Inc. Purchases Shares of 7,795 Cardinal Health, Inc. $CAH

Harold Davidson & Associates Inc. purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,795 shares of the company’s stock, valued at approximately $1,647,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Cardinal Health by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after buying an additional 617,775 shares in the last quarter. State Street Corp lifted its stake in Cardinal Health by 1.8% in the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after acquiring an additional 221,497 shares in the last quarter. Geode Capital Management LLC boosted its position in Cardinal Health by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock worth $1,336,750,000 after acquiring an additional 43,924 shares during the last quarter. Wellington Management Group LLP boosted its position in Cardinal Health by 153.2% during the 3rd 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 last quarter. Finally, Norges Bank bought a new position in shares of Cardinal Health during the 4th quarter worth approximately $790,344,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CAH. Weiss Ratings lowered shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Bank of America lifted their price target on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Evercore cut their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. Citigroup restated a “buy” rating on shares of Cardinal Health in a report on Thursday, July 2nd. Finally, TD Cowen lifted their target price on Cardinal Health from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.13.

Cardinal Health Price Performance

Shares of CAH opened at $233.73 on Friday. The firm has a 50-day moving average of $211.69 and a 200-day moving average of $212.83. The company has a market cap of $54.74 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 1.17 and a beta of 0.49. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $243.21.

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

Cardinal Health Increases Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 31.50%.

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.