Voya Investment Management LLC Acquires 615,398 Shares of Cardinal Health, Inc. $CAH

Voya Investment Management LLC raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 298.3% in the 3rd quarter, Holdings Channel reports. The firm owned 821,723 shares of the company’s stock after purchasing an additional 615,398 shares during the quarter. Voya Investment Management LLC’s holdings in Cardinal Health were worth $128,978,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC bought a new position in Cardinal Health during the 2nd quarter worth approximately $1,911,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Cardinal Health during the second quarter worth $79,000. Marshall Wace LLP raised its stake in Cardinal Health by 19.1% during the second quarter. Marshall Wace LLP now owns 1,930,967 shares of the company’s stock worth $324,402,000 after buying an additional 309,335 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Cardinal Health by 107.2% in the second quarter. Baird Financial Group Inc. now owns 99,393 shares of the company’s stock valued at $16,698,000 after buying an additional 51,416 shares during the period. Finally, Nomura Holdings Inc. boosted its position in Cardinal Health by 568.0% during the second quarter. Nomura Holdings Inc. now owns 85,293 shares of the company’s stock valued at $14,329,000 after acquiring an additional 72,525 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAH. TD Cowen lifted their price objective on Cardinal Health from $183.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Jefferies Financial Group set a $220.00 price target on Cardinal Health and gave the company a “buy” rating in a research note on Monday, November 3rd. Citigroup lifted their price objective on shares of Cardinal Health from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research note on Tuesday, November 18th. Finally, Wells Fargo & Company lifted their price target on shares of Cardinal Health from $185.00 to $221.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.00.

Cardinal Health Trading Up 1.9%

NYSE CAH opened at $202.80 on Friday. The company has a market cap of $48.19 billion, a P/E ratio of 30.59, a PEG ratio of 1.45 and a beta of 0.63. The company has a fifty day simple moving average of $191.05 and a 200 day simple moving average of $168.19. Cardinal Health, Inc. has a 12-month low of $116.03 and a 12-month high of $214.93.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. The firm had revenue of $64.01 billion for the quarter, compared to analyst estimates of $59.41 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the firm earned $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. Sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.5107 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. Cardinal Health’s payout ratio is 30.77%.

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.