Storgate LLC Buys New Stake in Cardinal Health, Inc. $CAH

Storgate LLC bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,247 shares of the company’s stock, valued at approximately $462,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Korea Investment CORP lifted its holdings in Cardinal Health by 24.8% in the 4th quarter. Korea Investment CORP now owns 215,857 shares of the company’s stock worth $44,359,000 after buying an additional 42,840 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in Cardinal Health in the 4th quarter worth $1,703,000. Wealthspire Advisors LLC lifted its holdings in Cardinal Health by 41.4% in the 4th quarter. Wealthspire Advisors LLC now owns 3,676 shares of the company’s stock worth $756,000 after buying an additional 1,077 shares in the last quarter. Allianz SE acquired a new position in Cardinal Health in the 4th quarter worth $652,000. Finally, Summit Financial LLC lifted its holdings in Cardinal Health by 3.0% in the 4th quarter. Summit Financial LLC now owns 2,950 shares of the company’s stock worth $606,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $223.76 on Friday. The firm has a market cap of $52.41 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 1.21 and a beta of 0.52. The firm’s 50-day simple moving average is $203.21 and its 200-day simple moving average is $208.85. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $233.60.

Cardinal Health (NYSE:CAH) last issued its earnings results 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. The business had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, equities analysts predict that Cardinal Health, Inc. will post 10.76 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.5158 dividend. This is a boost 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 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 31.19%.

Analyst Ratings Changes

A number of brokerages have commented on CAH. Citigroup cut their price objective 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. JPMorgan Chase & Co. cut their price objective on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Morgan Stanley boosted their price objective on shares of Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Weiss Ratings lowered shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Finally, Barclays upped their target price on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $246.93.

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.